Tyre maker Ceat rode back into the black with a
consolidated net profit of Rs 41.5 crore in the fourth quarter, compared with a
loss of Rs 12 crore a year ago, helped by good sales growth and softening
rubber prices in recent months.
The RPG Group company's consolidated net sales in Jan-March
were up 24% year-on-year to Rs 1,214.82 crore.
Its EBITDA (earnings before interest, taxes, depreciation
and amortization) jumped to Rs 130 crore in the fourth quarter, from Rs 19
crore a year ago.
Ceat's rival and India's top tyre maker MRF had
last month reported a 67% year-on-year jump in Jan-March net profit at Rs
150.13 crore, while net sales rose near 30% to Rs 2,990.63 crore.
Ceat's raw material costs rose just 3% from a year ago to Rs
834.3 crore over the three-month period. For the full year 2011-12, input costs
were up near 23%. Rubber prices had peaked around April 2011.
Meanwhile Ceat's finance costs in the quarter rose to Rs 54
crore from 32 crore a year ago.
Ceat shares closed up 2.3% at Rs 106.25 on NSE on Tuesday.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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