CEAT Sees Downward Trend of 36% In Q3 Net Profit
One of the leading Indian tyre manufacturers CEAT has recently reported a dip of 36 percent in its consolidated net profit for the quarter that ended in December 2018. Its net profit stands at INR 52.24 crore. The company had posted a net profit of INR 82.10 crore during the same period of the last fiscal. CEAT told in a filing to the BSE.
However, its consolidated total income increased and currently stands at INR 1,717.95 crore for the quarter in the review as against INR 1,580.78 crore for the corresponding period a year ago.
Anant Goenka, CEAT’s Managing Director, said that the company’s Q3 revenue, year on year has witnessed an upward trend on the back of a strong performance in two-wheelers and commercial vehicle segments. He further added that from a product launch perspective, the company is excited with the launch of the Gripp X3 and Milaze X3 products.