CEAT Q3 Outcomes: Web revenue falls 46% to Rs 97 crore on excessive uncooked supplies price

Tyre maker CEAT Ltd on Wednesday reported a 46.48 per cent decline in consolidated web revenue to Rs 97.03 crore for the third quarter ended December 31, impacted by excessive uncooked supplies prices. The corporate had posted a consolidated web revenue of Rs 181.28 crore in the identical quarter final fiscal, CEAT Ltd stated in a regulatory submitting.

Its consolidated income from operations stood at Rs 3,299.9 crore in opposition to Rs 2,963.14 crore within the year-ago interval, it added.

The full bills have been increased at Rs 3,175.58 crore in comparison with Rs 2,738.53 crore a yr in the past. The price of supplies consumed was Rs 2,116.52 crore, up from Rs 1,694.91 crore within the third quarter of the final fiscal, the corporate stated.

“Whereas the rising uncooked materials prices have impacted our margins, we progressively handed on a part of the rise by value improve in choose classes throughout the quarter,” CEAT Ltd MD & CEO Arnab Banerjee stated.

He stated the robust year-on-year double-digit income progress was pushed by the alternative phase.

On the outlook, he stated, “The demand continues to stay secure, and our order guide pipeline is powerful throughout all segments. Uncooked materials costs look flattish in This fall and we anticipate progress momentum to proceed”.