Ceat Ltd. saw its net profit nearly halve in October-December 2024 even as revenue rose.
Consolidated net profit of the tyremaker fell 46.5% year-on-year to Rs 97 crore in the quarter ended Dec. 31, even as revenue rose 11.4% to Rs 3,300 crore, according to an exchange filing on Wednesday. Analysts polled by Bloomberg had expected the bottom line at Rs 102 crore and the top line at Rs 3,347 crore.
Ceat Q3 Results: Key Highlights (YoY)
Revenue up 11.4% at Rs 3,300 crore (Estimate: Rs 3,347 crore)
Ebitda down 18.3% at Rs 341 crore (Estimate: Rs 345 crore)
Ebitda margin at 10.3% vs 14.1% (Estimate: 9.70%)
Net profit down 46.5% at Rs 97 crore (Estimate: Rs 102 crore)
On Wednesday, Ceat shares rose 0.51% to Rs 3,057.50 apiece on the BSE even as the benchmark Sensex ended the day 0.29% lower at 76,724.08 points. The quarterly results were declared after market hours.
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