Ceat Q2 Results: Profit declines 17% YoY to Rs 30 crore

Indian tyre maker Ceat reported a 17% decline in standalone net profit at Rs 29.9 crore for the second quarter ended Sep 30, 2022.

The company posted a net profit of Rs 35.96 crore in the corresponding period of the last financial year.

Revenues from operations stood at Rs 2,886.37 crore in the period under review, which is an increase of 18.7% compared to Rs 2,432.32 crore posted in the year-ago period. Earnings before interest, tax, depreciation and amortisation (Ebitda) margin stood at 7.1%.


Anant Goenka, Managing Director, CEAT Limited, said, “The domestic market continues to witness an uptick in demand, which has led to strong growth in the OEM segment. During the quarter, we made price adjustments in the 2-Wheeler segment, which has positively impacted our margins.”

“Internationally, we are beginning to see some headwinds in developed markets. Going forward, we expect the second half of this year to be better in terms of revenue and margins because of improving domestic demand and stabilising commodity prices”, Goenka added.