Ceat Tyres Q2 Profit Rise By 1.55% At Rs 106.92 Crore

On Monday, India’s leading tyre brand Ceat Limited registered a 1.55 percent increase in its consolidated net profit to INR 106.92 crore for the quarter that ended on September 30, 2016, while it was INR 105.28 crore in the same period in 2015.

In the last three months, the consolidated profits for the RPG Group company was recorded at INR 1,419 crore, which is a rise by 5.7 percent on YoY (year-on-year) basis. Moreover, the EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was recorded at INR 194 crore from previous INR 192 crore on YoY basis alongside profits were seen at 13.7 percent all through the quarter.

In an official statement Mr. Anant Goenka, Managing Director asserted that in this quarter that ended on September 30, 2016, their overall sales volume saw a growth of above 13 percent on YoY basis. The reason of this increment has been the double-digit growth in the domestic as well as exports segments, which was a result of their rigorous focus on the passenger car segment, he added. According to Mr. Anant Goenka, the margins saw some drop on the YoY basis, which was mainly because of the price cuts taken during the previous quarters.

Author: Ankit verma

My need for speed began at a very early age and I realised this as soon as I got my first bicycle at the age of 8. When all the other kids would break downhill I would pedal harder just to go faster and enjoy the thrill. Adding to my interest for speed, I grew engrossed in the working mechanics of two wheelers thanks to my father as he is a hydraulic mechanic and would take me along with him on his repair sessions. Eventually I became familiar with the tools and basic technical concepts of two wheelers.Super sport and sport tourers are more of my liking and the sparks to these flames were ignited the first time I experienced the maddening power of a Yamaha YZF R1. I was just 14 years old at the time and got to ride as a pillion with an older acquaintance. This one short ride influenced my every decision in terms of the bikes I want to own. As of today I’m 26 years old and a proud owner of a Yamaha Fz15 version 2.0 and a Kawasaki Ninja 650 2014 model having clocked a decent 30k Kms only while touring, waiting to clock 1000s more as riding makes me feel whole again after enduring the dismal routines of life. Read more