CEAT Q3 Outcomes: Revenue declined by 47% in December quarter, however income elevated by 11%. – INA NEWS

CEAT Q3 Outcomes: RPG Group’s tire manufacturing firm CEAT Restricted has launched its third quarter FY25 outcomes. Within the October-December quarter, the corporate’s internet revenue has declined by 46.5 % on an annual foundation. The corporate recorded a revenue of Rs 97.1 crore in the course of the interval. The corporate stated in a regulatory submitting that it had made a revenue of ₹181.5 crore in the identical quarter of the final monetary yr. At this time an increase of 0.51 % was seen within the shares of the corporate and this inventory closed on the value of Rs 3057.50 on BSE.

CEAT’s income elevated by 11 %

CEAT’s income elevated by 11.4 per cent to Rs 3,299.9 crore in the course of the December quarter, in comparison with Rs 2,963.1 crore in the identical interval final monetary yr. EBITDA declined 18.3% to ₹340.9 crore in Q3FY24 from ₹417.5 crore in Q3FY24. EBITDA margin in the course of the quarter stood at 10.3 per cent, in comparison with 14.1 per cent in the identical interval final monetary yr.

CEAT’s Rs 400 crore capex plan

CEAT has proposed a capex of ₹400 crore to extend manufacturing capability at its plant positioned in Butibori, Nagpur, Maharashtra. The present plant presently produces roughly 270 lakh tires yearly, with 90% capability utilization. The enlargement goals to extend capability by 30 per cent and the extra capability is anticipated to be operational by the tip of FY 2027-28.

CEAT CEO’s assertion

Arnab Banerjee, MD & CEO, CEAT, stated, “We witnessed robust double digit YoY progress, primarily attributable to rising demand within the alternative section. Though rising uncooked materials prices impacted our backside line, we achieved progress in some classes in the course of the quarter. A part of this has been handed on to prospects by rising costs. Demand stays secure, and our order guide is kind of robust within the fourth quarter. The momentum will proceed.”

CEAT CFO Kumar Subbiah stated, “Elevated uncooked materials prices impacted our general revenue in the course of the quarter. We managed a few of this impression by rising costs and controlling bills. In the meantime, our capex in the course of the quarter stood at ₹283. crore, which we met totally from our inner financial savings, so our debt stays the identical as earlier than.”