Ceat Q4 Result: Net Profit Falls 20 Percent To Rs 52 Crore
Published On 29-May-2020
The company had posted a net profit of Rs 64.32 crore in January-March quarter a year ago
Tyre maker Ceat on Thursday reported a 19.58 percent decline in consolidated net profit at Rs 51.72 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 64.32 crore in January-March quarter a year ago, Ceat Ltd said in a regulatory filing.
Revenue from operations declined to Rs 1,573.41 crore during the quarter under review as compared with Rs 1,760.47 crore in the corresponding of 2018-19.
For the fiscal year 2019-20, the company's net profit stood at Rs 230.06 crore as against Rs 251.08 crore in 2018-19. Revenue from operations declined to Rs 6,778.83 crore in FY20 as compared with Rs 6,984.51 crore in 2018-19.
"In Q4, our EBITDA margins have shown improvement despite the disruption caused by COVID-19," Ceat Ltd Managing Director Anant Goenka said.
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Ceat Tyres has resumed operations at most of its factories with easing in lockdown restrictions, and is gradually witnessing pick up in demand as well, he added.
Source:PTI
