Ceat Q1 Results: Profit Falls 27% On Higher Costs, Revenue Up 11% At Rs 3529 Cr

CEAT Q1 Results: The Company's Net Profit fell 27% astatine ₹112 cr vs ₹154 cr (YoY)Revenue roseate 10.5% year-on-year to ₹3,529 crore, up from ₹3,193 crore successful Q1 FY24, driven by beardown capacity successful some OEM (Original Equipment Manufacturer) and replacement segments. EBITDA grew marginally by 1.3% to ₹387 crore, while margins declined to 11% from 12% a twelvemonth agone owed to higher trading spends. Domestic request remained strong, pinch robust measurement maturation crossed cardinal OEM categories and a resilient replacement market. However, nan world business stayed level connected a year-on-year basis, weighed down by ongoing macroeconomic headwinds. CEAT has besides announced a superior expenditure scheme of astir ₹450 crore to grow its Chennai works located astatine Kannanthangal, Maduramangalam Post, Sriperumbudur TK, Kancheepuram. The installation presently produces astir 70 lakh tyres annually, operating astatine 80% capacity utilisation. The projected description will summation accumulation capacity by astir 35%, specifically successful nan Passenger Car Utility Vehicle (PCUV) segment. Catch Sakshi Batra successful speech pinch Kumar Subbiah, CFO, CEAT Ltd decoding nan Q1 net and maturation bluish print