Ceat Q1 profit increases 15%

Ceat Q1 profit increases 15%

Ceat’s consolidated profit rose 15% to Rs 82 crore for the first quarter ended June 30, 2019 as against consolidated net profit of Rs71.44 crore for the same period of last fiscal.Net revenue from operations inched up to  Rs 1,752 crore in the April-June 2019 period compared to Rs 1,722 crore in the same quarter year ago.

On a standalone basis, India operations grew marginally to report a revenue of INR 1,704 crore. Standalone PAT stood at INR 87 crore.
Commenting on the results,  Anant Goenka, Managing Director, CEAT Limited said, “The impact of fall in demand
from automobile manufacturers has been felt across the tyre industry. However, we have been able to counter the
slowdown in OEM sales with Replacement and Export market sales.”
Kumar Subbiah, CFO of CEAT Limited, said, “As the market was relatively weak, we kept strong controls on our
discretionary operational expenses. We generated good cash flow through reduction in working capital that helped
minimize our borrowing for capital expenditure requirement.”


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