'Tyre manufacturer CEAT reported a 17% rise in its consolidated net profit at Rs 76.81 crore for the fourth quarter ended March 2018. The company had posted net profit at Rs 65.87 crore during the same period of the previous fiscal. Total income during the quarter under review stood at Rs 1,673.86, rise of 14%. Higher tax provision curtailed bottomline growth. AT the PBT level, the company registered 97% rise in profits to Rs 111.3 crore. The quarter witnessed good rise in margins after successive quarters of drop in margins over past few quarters.
Quarterly Performance
Average natural rubber (NR) prices which is the key input cost dropped on yoy basisduring the quarter ended March 2018. Prices were almost 18% lower over the year and averaged around Rs 125/Kg vis a vis Rs 151/Kg a year ago in Jan-Mar 2017 period. This along with decrease in other cost components helped CEAT in improving its margins.
For the quarter ended Mar 2018, marginsimproved 280 bps to 11.8% ...
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