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CEAT (Cavi Elettrici e Affini Torino) Ltd., the flagship company of RPG Enterprises has registered a whopping 4,000% jump in its consolidated Q1 2018-19 profit. Last year, CEAT registered INR 1.62 crore in the Q1 2017-18, while the profit in the corresponding period this year has massively increased to INR 72.03 crore.
The major reason for this massive surge in profits is the impact of cost control measures that were put in place by CEAT during the last year. Overall, the company’s consolidated total income increased by 4.33 percent and stood at INR 1,710 crore on Year on Year basis. At the same time, earnings per share (EPS) increased from INR 0.40 in the last year to INR 17.81 this year for the quarter under review. The company’s stock price too increased by 5% after the news of the Q1 2018-19 earnings.
About CEAT:
CEAT is among the top five tyre manufacturers of India. The company exports its products to over 110 countries across the world. Headquartered at Mumbai, CEAT employs about 8,000 people and manufactures over 165 million tyres annually.
