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Ceat shares fall 1.5% on Q4 earnings

LiveMint logoLiveMint 28-04-2017 PTI

New Delhi, Shares of tyre manufacturer Ceat Ltd on Friday fell by over 1% after the company reported 32.5% decline in consolidated net profit for the fourth quarter ended 31 March 2017.

The stock ended 1.48% down at Rs 1,520.80 on BSE. During the day, it slipped 2.48% to Rs 1,505.25.

On NSE, it went down by 1% to close at Rs 1,525.90. In terms of volume, 2.23 lakh shares of the company were traded on BSE and over 16 lakh shares changed hands at NSE during the day.

Ceat Ltd on Friday reported 32.5% decline in consolidated net profit at Rs 66.33 crore for the fourth quarter ended March 31, 2017, hit by demonetisation and higher raw material costs.

The company had posted a consolidated net profit of Rs 98.28 crore in the same period of previous fiscal, Ceat Ltd said in a BSE filing.

Total income from operations during the quarter under review stood at Rs 1,641.29 crore as against Rs 1,563.21 crore in the year-ago quarter, up 4.99%.

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