CEAT Limited reports Q2 FY21-22 revenue of Rs 24.5bn
CEAT Limited, an Indian tire manufacturer owned by RPG Group, has reported revenue of INR 2,452 crores for the second quarter of the fiscal year 2021-2022 (Q2 FY21-22).
The EBITDA margin of CEAT Limited for Q2 FY21-22 was 8.9%, an expansion of more than 11 bps compared to Q1 FY21-22.
The net profit of the company was INR 42 crores.
Indian tire manufacturer CEAT Limited reports Q2 FY21-22 revenue of Rs 24.5bn. Photo courtesy of GT1976/Wikipedia.org.
Anant Goenka — Managing Director of CEAT Limited said: “Overall market demand continues to be robust, despite some lag in Commercial and Farm categories. We witnessed strong growth of 28% compared to preceding quarter on account of good performance in Replacement market, particularly in the passenger segments.
“The rising input cost has impacted our gross margins; however, it has been partially offset by price adjustments over the last quarter.”