New Delhi, May 28 (PTI) Tyre maker Ceat on Thursday reported a 19.58 per cent decline in consolidated net profit at Rs 51.72 crore for the fourth quarter ended March 31, 2020.
The company had posted a net profit of Rs 64.32 crore in January-March quarter a year ago, Ceat Ltd said in a regulatory filing.
Revenue from operations declined to Rs 1,573.41 crore during the quarter under review as compared with Rs 1,760.47 crore in the corresponding of 2018-19.
For fiscal year 2019-20, the company’s net profit stood at Rs 230.06 crore as against Rs 251.08 crore in 2018-19.
Revenue from operations declined to Rs 6,778.83 crore in FY20 as compared with Rs 6,984.51 crore in 2018-19.
“In Q4, our EBITDA margins have shown improvement despite the disruption caused by COVID-19,” Ceat Ltd Managing Director Anant Goenka said.
The company has resumed operations at most of its factories with easing in lockdown restrictions, and is gradually witnessing pick up in demand as well, he added.