PAT at INR 53 crore, up 20.3% (QoQ)
Mumbai, India – 22nd January 2020
CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its unaudited results for the third quarter ending on 31st December 2019. On a consolidated basis, the company’s revenue rose 4.2% sequentially to INR 1,762 crore, EBITDA expanded by 30 bps to reach 10.7% at INR 188 crore. PAT stood at INR 53 crore – a sequential growth of 20.3%.
Commenting on results as well as the outlook of the business, Mr. Anant Goenka, Managing Director, CEAT Limited said, “The company has performed well despite challenging business environment. We will be commissioning our Chennai & Nagpur plants in the fourth quarter and with the new capacities coming in, we are looking forward to growing the passenger segments.”
On standalone basis, India operations reported revenue of INR 1,709 crore – a sequential growth of 3.8%. EBITDA, for the same period, expanded by 22 bps to reach 10.6% at INR 181 crore. Standalone PAT stood at INR 62 crore for the quarter.
Mr. Kumar Subbiah, CFO of CEAT Limited, said, “Our revenue growth and cost controls helped to deliver improved margins during the quarter. We continue to exercise dexterity in controlling our ongoing capex which has helped us to control our debt levels.“