Ceat reports increased revenues, lower profits in Q2

ERJ staff report (DS)

Mumbai, India – Net revenues at Indian tyre maker Ceat Ltd increased by 6 percent in the three months to September 2012. Pre-tax profits (EBITDA) fell in the period, as did margins.

The company said net revenues hit Rs 11,638 million (euro 167 million) in the three months, up from Rs 11,019 million a year ago. Pre-tax profit fell to Rs 41 million compared with Rs 83 million a year earlier.

The company has increased its total volumes of radial to 15…

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