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 million 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, “While higher raw material costs impacted our margins, we offset the increase through price hikes in some categories during the quarter. “We have transferred some of the costs in stages,” he said.
He attributed the strong double-digit year-on-year sales growth 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.