Performance for CEAT's 3QFY23 was stronger than anticipated, driven by a 220bps QoQ increase… – CEAT: 3QFY23 update, 30 Jan 2023

Performance for CEAT's 3QFY23 was stronger than anticipated, driven by a 220bps QoQ increase in gross margin. The RM basket's QoQ decline of almost 4% and the marginal price increase of 0.5% were the main factors in the gross margin growth. As predicted, CEAT recorded adj. PAT of Rs421mn.
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