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 is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Investor presentation
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive