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

Tyre maker CEAT Ltd on Wednesday reported a 46.48 per cent decline in consolidated internet 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 internet revenue of Rs 181.28 crore in the identical quarter final fiscal, CEAT Ltd mentioned in a regulatory submitting.

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

The overall bills had been greater at Rs 3,175.58 crore in comparison with Rs 2,738.53 crore a 12 months 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 mentioned.

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

He mentioned the sturdy year-on-year double-digit income development was pushed by the substitute phase. On the outlook, he mentioned, “The demand continues to stay secure, and our order guide pipeline is strong throughout all segments. Uncooked materials costs look flattish in This autumn and we count on development momentum to proceed”.