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The corporate reported a consolidated revenue of Rs 25 crore, down 84% year-on-year. Consolidated income through the quarter improved by 13% to Rs 2,592 crore backed by increased costs and gross sales.
Earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) declined by 28% year-on-year to Rs 187 crore. EBITDA margin shrank by 418 foundation factors to 7.2%.
Anant Goenka, the managing director of Ceat stated that there was a restoration available in the market, significantly within the alternative and industrial tyre classes. The worldwide enterprise too carried out nicely and the corporate expects it to drive development within the coming yr.
“Margins, nonetheless, proceed to be below strain attributable to rising commodity costs and different inflationary prices,” Goenka stated in a press assertion.
The corporate declared a dividend of Rs 3 per share. Its inventory closed 0.62% increased on the BSE on Thursday at Rs 1,090.25. Benchmark Sensex was flat.
For the entire fiscal yr FY22, Ceat reported a consolidated high line of Rs 9,363 crore and a revenue of Rs 71 crore. EBITDA got here in at Rs 739 crore.
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