CEAT Q1 net profit jumps multi-fold to Rs 144.01 crore

Tyre maker CEAT Ltd on Tuesday reported a multi-fold jump in consolidated net profit at Rs 144.01 crore in the June quarter. The company had posted a consolidated net profit of Rs 8.68 crore in the year-ago period, CEAT Ltd said in a regulatory filing.

Consolidated revenue from operations was at Rs 2,935.17 crore as against Rs 2,818.38 crore a year ago, it added.

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Total expenses in the first quarter were also lower at Rs 2,739.14 crore as compared to Rs 2,816.66 crore in the same period a year ago.

"Replacement and international business are looking good with good product - market fit. Our product performance continues to get accepted as superior across key geographies," CEAT Ltd Managing Director and Chief Executive Officer Arnab Banerjee said.

Better sweating of assets, improved efficiencies through digital interventions and otherwise, shall improve margins going forward, he added.