Ceat Ltd net profit rises marginally in Q2
New Delhi, Nov 7 (IANS) Ceat Limited, an RPG Group company, on Monday reported a 1.55 percent rise in its consolidated net profit to Rs 106.92 crore for the quarter ended September 30, 2016 as compared to Rs 105.28 crore in the corresponding period last year.
On a consolidated basis, the tyre maker’s revenue stood at Rs 1,419 crore in the three months ended September 30, up by 5.7 percent on a year-on-year basis. EBITDA stood at Rs 194 crore from Rs 192 crore on a year on year basis, while margins were at 13.7 percent during the quarter.
“In this quarter, our overall sales volume grew by over 13 percent on a year-on-year basis. This was led by double-digit growth in both domestic and exports segments aided largely by our focus on the passenger segments. Margins have seen slight decline year-on-year, predominantly due to price cuts taken during the previous quarters,” said Managing Director Anant Goenka.
On the products front, the company launched puncture safe tyres for bikes – a first in India, and fuel smart series for passenger cars, a statement added.