The RPG Group flagship paid nearly double the amount of taxes in the reporting quarter at Rs 31.2 crore from Rs 19.4 crore a year ago.
Its net sales rose to Rs 1,443.8 crore in the quarter from Rs 1,334.42 crore.
However, for the full year, its net profit soared by 126 per cent to Rs 271 crore, driven by higher sales and stable raw material prices which helped it improve margins by a healthy 320 basis points in the quarter to March.
"While the auto industry grew a meagre 3.5 per cent, Ceat grew 10 per cent. Our sales have grown better than the industry. We saw a rise of 11 per cent in the replacement market, while OEM sales surged by 19 per cent," Ceat's Managing Director Anant Goenka said.
The decline in raw material prices that started last fiscal also helped the numbers, as the full impact was witnessed this fiscal, he added.
He attributed the good set of numbers to the all-round growth in business both in the domestic market as well in Sri Lanka, where is the market leader with over 50 per cent market share.