Strong Q4 profit growth for CEAT on back of lower input costs

ERJ staff report (BC)

Mumbai, India – Tire maker CEAT has posted a growth of 47.14 percent in net profit to Rs 609m (€8.59m) for the quarter ended 31 March 2013.

Total income increased 7.03 percent to Rs 13.10bn (€184.8m) for the quarter, up from Rs 12.24bn (€172.6m) year-on-year.

Managing director Anant Goenka is reported as saying: “There was a reduction in raw martial prices, including that of rubber which accounts for 40 per cent of our raw material. This was a key mover towards higher profitability.”


This…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with