CEAT Ltd, leading tyre manufacturer, has come out with its net profit for the first quarter ended June 30, 2009. The company posted a net profit of Rs 60.2 crore in the latest quarter.

The company today announced that its net sales stood at Rs 674 crore.

Its operating profit before tax to net sales ratio of 13.5% in the first quarter is the highest in the industry.

CEAT's Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of 16.3% is again the industry-best for the first quarter.

Mr. Paras K Chowdhary, CEAT's MD, proclaimed that the company has profitability based business model that is reflected in the results of the first quarter.

He added that they have amended their functional efficiencies, product mix and sharply increased their replacement market-share.

The company said that it gets about 79% of its sales from the higher margin replacement segment, which led to boosting profits, adding it is also focusing on increasing exports.

The shares of CEAT Ltd on Friday closed at Rs 129.20, up 4.91% on BSE. Total volume of shares trading was 219,656 at the BSE.