Ceat sales up 10%

India’s Ceat Tyres has posted a consolidated net profit of Rs 290 million (£3.3 million) for the quarter ending 30 June. Net sales increased to Rs 12.2 billion (£139.9 million) during the three-month period. “Despite relatively weak market conditions due to lower OEM demand, rising fuel costs and depressed economic sentiments locally as well as globally, we managed to close the first quarter of this fiscal year on a positive note,” commented Ceat managing director Anant Goenka. “We will continue to focus on improving our product mix and operational efficiencies. In FY13, our priorities will be to ramp up our radial plant at Halol to full capacity, strengthen the brand and expand internationally.”