Tyre maker Ceat reports steep rise in Q2 net profit at Rs 207.72 crore

Tyre maker CEAT Ltd on Monday reported a steep rise in consolidated net profit at Rs 207.72 crore for the September quarter.

The company had posted a consolidated net profit of Rs 6.44 crore in the year-ago period, CEAT Ltd said in a regulatory filing.

Consolidated revenue from operations during the second quarter of the current fiscal stood at Rs 3,053.32 crore as against Rs 2,894.48 crore in the year-ago period, it added.

Total expenses were lower at Rs 2,793.41 crore as compared to Rs 2,864.18 crore last year, the company said.

"The demand continues to be stable, and we are witnessing mid-single-digit growth in our topline across all three segments replacement, OEMs, and international business. Our focus on product mix and judicious pricing helped improve margins during the quarter," CEAT Ltd MD & CEO Arnab Banerjee said in a statement.