Teslas too driving on CEAT tyres, says Harsh Goenka; shares photos online

RPG Chairman Harsh Goenka who is an active user of the microblogging site 'X' on Thursday shared a huge achievement for the company's tyre-making arm, CEAT.

In a post of 'X', Goenka shared that CEAT tires were being used for Elon Musk's Tesla.

"Now Teslas too driving on CEAT tyres! A perfect synergy of innovation and sustainability," said Goenka.



From the pictures, the tyres that are used belong to CEAT's luxury section that was launched by a leading tye manufacturing company in the country a while ago.

Tyre maker CEAT Ltd on Wednesday reported an over five-fold rise in consolidated net profit at Rs 181.28 crore in the third quarter ended December 2023 due to robust sales, raw material cost reduction and operational efficiencies.

Its consolidated revenue from operations in the quarter under review stood at Rs 2,963.14 crore as against Rs 2,727.2 crore in the corresponding period a year ago, CEAT Ltd said in a regulatory filing.

"Replacement and International business reflected strong growth on Y-o-Y (Year-on-Year) basis. While margins for the quarter were healthy, we witnessed a marginal drop (sequentially) primarily on account of increase in input cost," CEAT MD and CEO Arnab Banerjee said.

CEAT said Y-o-Y margin improvement was led by raw material cost reduction and operational efficiencies.

(with agency inputs)