Ceat Q3 FY 08 net up 63%

Written by Agencies | Mumbai, January 31: | Updated: Jan 31 2008, 22:47pm hrs
RPG group company, Ceat Ltd has clocked a 63 per cent jump in its net profit at Rs 19.22 crore in Q3 FY08 against Rs 11.78 crore in the year-ago period.

The companys gross sale for the reporting quarter stood at Rs 630 crore as compared to Rs 600 crore in the year-ago period, a release said in Mumbai on Thursday.

The EBITDA margin to net sales surged by 110 basis points during the quarter to 8.9 per cent compared to 7.8 per cent for the same period in the previous year.

Ceat Managing Director Paras K Chowdhary said, the increase in operating margins is mainly attributed to better product mix, strategic buying of raw material and sustained efforts towards cost optimisation and lower interest burden despite increase in interest rates and growth in business.