Karnataka delegation holds discussions with Tata Group, Mahindra, JSW, RPG in Mumbai
Patil invited leaders of some of India’s biggest conglomerates – Tata Group, Mahindra Group, JSW, RPG Group – to invest in Karnataka, as per an official release.
Tyre manufacturer CEAT Ltd on Thursday reported a consolidated net profit to Rs 154.2 crore for the April-June quarter of 2024-25 which represents a 7 per cent increase over the corresponding figure of Rs 144.01 crore for the previous year, according to a company statement.
On a consolidated basis, the RPG group company’s revenue closed at Rs. 3,192.8crore, EBITDA margin stood at 12.2 per cent, a contraction of 124 bps vs Q4 FY23-24.
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The company said it incurred a CAPEX of Rs.254 crores during the quarter, largely from internal accruals, in order to meet rising demand ahead.
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Arnab Banerjee, MD & CEO, CEAT Limited said: “We are encouraged by the strong growth we’ve had in the replacement and export segments across all categories during the quarter. Despite facing margin pressure from significant increases in raw material costs and ocean freight, we are actively mitigating these challenges through strategic price adjustments.”
“Our strategic focus on passenger car tyres has begun to yield positive results. Looking ahead, we anticipate continued momentum in volume throughout Q2 and beyond,” he added.
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