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.”