Ceat Q4 profit up three-fold at Rs 153 crore on operating efficiencies ANI | Updated: May 05, 2021 18:06 IST
Mumbai (Maharashtra) [India], May 5 (ANI): RPG Group company Ceat Ltd on Wednesday reported 45 per cent increase in consolidated sales revenue for the March quarter at Rs 2,290 crore.
The net profit was up 195 per cent at Rs 153 crore, largely driven by an operating boost to the company.
While raw material costs went up in line with global trends, the company compensated through better inventory efficiency and reduced capital locking in the cycle. Our strong focus on cashflows and tight working capital management during the year helped us to bring down our gross debt by Rs 510 crore, leading to improvement in our leverage ratios and stronger balance sheet, said Chief Financial Officer Kumar Subbiah.
Read more about Ceat posts three-fold jump in standalone net profit in March quarter on Business Standard. Tyre maker Ceat Ltd reported a nearly three-fold increase in standalone net profit to Rs 141.84 crore in the March quarter of the previous financial year
Ceat Q3 PAT up at Rs 132 crore on higher revenues ANI | Updated: Jan 19, 2021 17:45 IST
Mumbai (Maharashtra) [India], Jan 19 (ANI): RPG Group company Ceat Ltd on Tuesday reported a consolidated profit after tax of Rs 132 crore in the October to December quarter on revenues of Rs 2,221 crore.
The consolidated operating profits totalled Rs 240 crore on the back of higher sales revenues and less than proportionate increase in costs, said the tyre manufacturer.
The demand for tyres is largely a derived demand. In the last two quarters, the company benefited from a sharp pick-up in tyre demand due to automobiles production getting back to pre-Covid levels. Also, the retreading demand is picking up.