Net revenue within the January-March quarter of FY21 was INR 153 crore in comparison with INR 51.72 crore in the identical interval of the earlier fiscal, the corporate mentioned in a launch.
New Delhi: Leading tyre maker Ceat on Wednesday reported 195.86% rise in its consolidated March quarter internet revenue on the again of rebound within the auto sector.
Net revenue within the January-March quarter of FY21 was INR 153 crore in comparison with INR 51.72 crore in the identical interval of the earlier fiscal, the corporate mentioned in a launch.
Meanwhile, the corporate’s consolidated income stood at INR 2,290 crore in This autumn FY21, up 45%, as in opposition to INR 1,573.41 crore in the identical quarter a 12 months in the past.
Towards the latter a part of the 12 months the rise in commodity costs eroded our gross margins which prompted us to go for a marginal value improveAnant Goenka, Managing Director, Ceat
EBITDA margin stood at 11.7%, a contraction of over 355 bps over the earlier quarter of this fiscal.
“We gained market share in PCR and TBR segments. Encouraged by buoyancy in demand, we added new capacity in TBR segment. Towards the latter part of the year the rise in commodity prices eroded our gross margins which prompted us to go for a marginal price increase,” Anant Goenka, managing director, Ceat, mentioned.
The frequent lockdowns and excessive commodity costs stay an industry-wide downside for OEM and retail demand, he added.
On a standalone foundation, the corporate’s income stood at INR 2,279 crore and EBITDA margin at 11.2%, a contraction of over 350 bps in opposition to the earlier quarter of this fiscal.
