Ceat Q3 results: Standalone profit jumps 167% to Rs 128 crore
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Earnings before interest, tax, depreciation and amortisation (Ebitda), grew by 78% to Rs 326 crore, while Ebitda margin improved by 430 basis points to 14.7%. One basis point is 0.01%.
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The company spent Rs 12.3 crore towards Voluntary Retirement Scheme (VRS) for its employees during the quarter.
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Mumbai: Tyre maker
Ceat reported a 167% growth in profit for the December quarter on the back of good recovery in supply to automakers as well as for replacement demand.
The company reported a standalone profit of Rs 128 crore for the quarter against Rs 48 crore during the same period last year. Revenue grew by 26% to Rs 2,213 crore.