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For the second quarter ended September 30,2019, Tyre Firm, Ceat Limited Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) and gross margins witnessed growth in comparison to the previous quarter.
Managing Director of the company, Anant Goenka on Tuesday attributed the development to an improved product portfolio.
Also, Ceat CFO, Kumar Subbiah explained that the tyre maker’s focus on the right product mix and tight cost management helped it to deliver improved margins during the quarter.
He said: “We had one more quarter of cash flow management that helped us minimise the borrowings to fund our project capex.”
However, the company within the period, reported a 30.81 per cent decline in its consolidated net profit.
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