For the third quarter ended December 31, 2013, CEAT Ltd. registered, on a standalone basis, a revenue growth of 15 per cent year on year at Rs. 1,375 crores. Profit before tax rose 262.7 per cent to Rs. 90.90 crores for the quarter.EBITDA for the third quarter stood at 11.2 per cent compared to 8.5 per cent in the corresponding quarter of the previous year. The consolidated EBITDA margins stood at 11.5 per cent (8.9 per cent).
Mr. Anant Goenka, Managing Director, CEAT Ltd., said: “Q3 has been positive for us on the back of strong revenue growth across verticals. Going forward, we expect margins to be stable on account of stable raw material prices. We will continue to focus on improving our product mix and operational efficiencies. With regular investments in research and development, we will continue to bring in newer products to the market.”
Mr. Subbarao Amarthaluru, CFO, CEAT Ltd., said: “The credit rating of the company has gone up by three notches to ‘A’ from ‘BBB’. As CEAT continues to consolidate its profitability, we hope to achieve better rating and lower the cost of funds.”