CEAT deflates after dull Q3 outcome

CEAT lost 5.33% to Rs 1,784 at 11:52 IST on BSE after consolidated net profit fell 1.85% to Rs 82.10 crore on 12.81% growth in total income to Rs 1588.42 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 1 February 2018.

Meanwhile, the S&P BSE Sensex was down 517.79 points or 1.44% at 35,388.87.

On BSE, 34,000 shares were traded in the counter, compared with average daily volume of 27,000 shares in the past one quarter. The stock hit a high of Rs 1,844.95 and a low of Rs 1,700.60 so far during the day. The stock had hit a record high of Rs 2,030 on 10 January 2018. The stock had hit a 52-week low of Rs 1,070.55 on 16 February 2017.

The mid-cap company has equity capital of Rs 40.45 crore. Face value per share is Rs 10.

Anant Goenka, Managing Director, CEAT said the company witnessed steady growth in topline driven by robust volumes across passenger, two-wheelers and commercial vehicle tyres segments. Margins have also improved with favorable raw material prices and continued cost efficiencies.

CEAT is one of India's leading tyre manufacturers. The company sells its tyres under the CEAT brand

Powered by Capital Market - Live News