Ceat YOY profit surges
India’s Ceat Limited has reported a nine per cent growth in year-on-year revenues for the quarter ending 30 September 2013. On a standalone basis, revenues in this second quarter of the company’s financial year rose to Rs 12.63 billion (£127.6 million). Pre-tax profit rose from Rs 41 million in the second quarter of 2012 to Rs 1.1 billion (£11.1 million) in the most recent quarter. EBITDA for the second quarter of the 2014 financial year stood at 13.1 per cent, compared with 6.7 per cent in the corresponding quarter of the previous year.