Ceat Q2 net profit declines 42% to Rs 121 crore

Tyre shaper Ceat connected Thursday said its consolidated nett aft taxation declined 42 per cent year-on-year to Rs 121 crore for the 2nd 4th ended September 2024 connected relationship of an summation successful commodity prices. The institution reported a nett aft taxation of Rs 208 crore successful the July-September play of the past fiscal.

Its gross from operations roseate to Rs 3,304 crore for the 2nd 4th compared to Rs 3,053 crore successful the year-ago period, Ceat said successful a regulatory filing.

On a standalone basis, the institution reported a PAT of Rs 136.5 crore against Rs 199 crore successful the aforesaid play of past fiscal.

The standalone gross from operations stood astatine Rs 3,298 crore compared to Rs 3,043 crore a twelvemonth ago.

"This 4th marks our highest gross ever, driven mostly by robust performances successful our replacement and planetary sectors. While determination is simply a important summation successful the commodity prices, our margins got impacted during the quarter," Ceat MD and CEO Arnab Banerjee stated.
The institution took selective terms increases during the 4th that offset portion of the outgo impact, helium added.

"The gross outlook remains affirmative arsenic we participate Q3," Banerjee said.

Ceat CFO Kumar Subbiah said the 4th besides saw the company's wide indebtedness level emergence by Rs 280 crore, driven successful portion by accrued earthy worldly inventory, necessitated owed to an summation successful transit play connected imports and the organisation of dividend successful September to the tune of Rs 120 crore.