Ceat Q3 PAT up at Rs 132 crore on higher revenues ANI | Updated: Jan 19, 2021 17:45 IST
Mumbai (Maharashtra) [India], Jan 19 (ANI): RPG Group company Ceat Ltd on Tuesday reported a consolidated profit after tax of Rs 132 crore in the October to December quarter on revenues of Rs 2,221 crore.
The consolidated operating profits totalled Rs 240 crore on the back of higher sales revenues and less than proportionate increase in costs, said the tyre manufacturer.
The demand for tyres is largely a derived demand. In the last two quarters, the company benefited from a sharp pick-up in tyre demand due to automobiles production getting back to pre-Covid levels. Also, the retreading demand is picking up.