Auto Tyres & Rubber Products Company Ceat announced Q1FY24 results: Consolidated Q1FY24: Company’s revenue closed at Rs 2,935 crore EBITDA margin stood at 13.1% Net profit stood at Rs 144 crore. Standalone Q1FY24: Company’s revenue stood at Rs 2,921 crore EBITDA margin stood at 13.2% Net profit stood at Rs 159 crore Commenting on the results as well as the outlook of the business, Arnab Banerjee, MD & CEO, CEAT said, “Replacement and International business are looking good with good product - market fit. Our product performance continues to get accepted as superior across key geographies. Better sweating of assets, improved efficiencies through digital interventions and otherwise, shall improve margins going forward.” Kumar Subbiah, CFO of CEAT, said, “During the quarter, we have focused and optimized on operational efficiencies. Our improved product mix and procurement efficiencies have helped improve our gross margins leading to an improvement in our overall margins both sequentially and year-on-year. Our continuous focus on cash has helped us reduce our debt for the second consecutive quarter, and we have seen a reduction in our standalone gross debt by Rs 97 crore.” Result PDF