2010-01-22 13:15:42 - CEAT Clocks net profit of Rs. 24 crore

Mumbai, Friday Jan 22, 2010: RPG Group’s flagship company CEAT Ltd., a leading tyre manufacturer, continues its strong performance in its net sales over the same period last year.

CEAT reported a net profit of Rs 24.02 crore for the third quarter in the current financial year. PBT for third quarter this year stood at Rs 33.1 crore compared to a loss of Rs 21.8 crore during the third quarter last year.

Announcing the results, Mr. Paras K. Chowdhary, MD, CEAT Ltd. said, “Despite a steep hike in raw material prices, we have managed good numbers because of improved sales mix and operational efficiency. We are hopeful of posting our best ever results in the current year.”

About Company

CEAT Tyres,

the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturers and has a strong presence in both domestic & international markets. The company manufactures over 10 million tyres every year and enjoys a major market share in the light truck & truck tyre market. CEAT tyres, tubes and flaps are renowned for their superior quality and durability. CEAT offers the widest range of tyres to all user segments and manufacture world-class radials for all Indian vehicles including: Heavy-duty Trucks and Buses, Light Commercial Vehicles, Earthmovers, Forklifts, Tractors, Trailers, Cars, Motorcycles and Scooters, Auto-rickshaws. CEAT has three manufacturing plants - Mumbai (Bhandup), Nasik & Sri Lanka.

The company currently exports tyres to nearly 110 countries across USA, Europe, Africa & other parts of Asia. CEAT has a robust network consisting of over 3,500 dealers, 33 regional offices and more that 100 C & F agents. CEAT also has a branded franchisee network ‘CEAT Shoppe’. These Shoppes are retail tyre outlets, providing comprehensive expertise in tyres and tyre services -- all under one roof. The company has a dedicated Customer Service department, comprising Customer Service Managers in all the four divisional offices, assisted by 50 Service Engineers. The board of the company is headed by Mr. R P Goenka, Chairman Emeritus and Mr. Harsh Goenka, Chairman, RPG Enterprises. Mr. Paras K Chowdhary is the Managing Director of CEAT Ltd and Mr. Arnab Banerjee heads the Sales & Marketing division.