Consolidated operating revenue stood at 3,299.9 million rupees, compared to 2,963.14 million rupees in the same period last year.
Total expenses increased to 3,175.58 billion rupees compared to 2,738.53 million rupees in the same period last year. The company said the cost of materials consumed was Rs 2,116.52 crore, up from Rs 1,694.91 crore in the third quarter of the previous fiscal.
Arnab Banerjee, MD & CEO, CEAT Ltd, said, “Rising raw material costs are impacting our profit margins, but we expect to see an increase in our profit margins through price increases in some categories during the quarter. We have passed on part of the cost in stages.”
He said the strong double-digit year-on-year sales growth was due to the substitutes segment.
On the outlook, he said, “Demand remains stable and our order pipeline is strong across all segments. We expect raw material prices to be flat in the fourth quarter and growth momentum to continue.” said.
