CEAT records net loss of Rs 20 cr in December end quarter

22 Jan 2022 CW Team

Indian tyre manufacturing major CEAT Limited reported a net loss of Rs 20 crore during the December-end quarter because of muted demand.

Earlier, the company reported a net profit of Rs 132 crore during the third quarter (Q3) of FY 2020-21.

According to a report, the company's revenue from operations increased by Rs 2,413 crore in Q3, compared to Rs 2,221 crore during the same period a year ago.

Managing Director of CEAT, Anant Goenka, said that the company is witnessing muted demand in the replacement department due to tepid consumer sentiment, higher prices of fuels and a softer uptick in the rural markets of India. The ongoing shortage of semiconductors affects the original equipment manufacturer (OEM) passenger segment sales.

He added that the company's margins continue to face a crisis due to increasing prices of the commodity that have begun to taper down towards the end of Q3.

Moreover, CEAT is taking necessary actions to reduce costs and are looking at appropriate price increases forward.

Goenka said that the tyre manufacturers have gained market share in the passenger segment and witnessed robust growth in the off-highway tyre (OHT) and overseas business. The two-wheelers segment is another space that will continue to remain strong.

Image Source

Also read: CEAT to reinvent tyres with IOS sensors, GPS trackers, AI systems

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..