Ceat Q2 profit up 1.55 pc at Rs 106.92 cr

Tyre maker Ceat today posted 1.55 per cent increase in consolidated net profit at Rs 106.92 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 105.28 crore during the same period of previous fiscal.
Its income from operations rose to Rs 1,596.63 crore for July-September quarter, up 5.10 per cent as compared to Rs 1,519.08 crore in the same period of previous fiscal.
Ceat Managing Director Anant Goenka said: "In this quarter, Ceat's overall sales growth was led by double digit in both domestic and export segments aided largely by our focus on the passenger segments..Margins have seen decline due to price cuts taken during the previous quarters."

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On standalone basis, the tyre-maker reported a near 10 per cent decline in net profit at 102 crore, down from Rs 112 crore a year ago, primarily due to inventory losses on natural rubber.
Domestic operations reported revenue of Rs 1,405 crore on a standalone basis, while overall sales volume grew by over 13 per cent led by double-digits growth in both domestic and exports segments aided largely by the focus on the passenger segments.
When asked about the reasons for the fall in profit, managing director Anant Goenka told