Ceat Q4 net profit falls 16 pc to Rs 64 cr

Tyre maker Ceat Tuesday reported a 16.26 per cent fall in its consolidated net profit to Rs 64.32 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 76.81 crore for the corresponding period of 2017-18.

Revenue from operations, however, rose to Rs 1,760.47 crore for the fourth quarter as against Rs 1,686.09 crore in the year-ago quarter, Ceat Ltd said in a regulatory filing.

For 2018-19, the company posted a net profit of Rs 251.08 crore, up 7.62 per cent, from Rs 233.29 crore in 2017-18.

Revenue from operations during the last financial year stood at Rs 6,984.51 crore as compared with Rs 6,283.42 crore a year ago.

"In the past year, we have endeavoured to sustain our growth trajectory during what was a rather a muted period. The impact of rising crude prices and production cuts by automobile manufacturers has been felt across the auto and ancillary industry," Ceat Ltd Managing Director Anant Goenka said.

However, the company continues its capacity expansions as planned with Halol's truck and bus radial plant commencing operations in February, he added.

The company's board recommended a final dividend of Rs 12 per share (120 per cent) of Rs 10 each for the financial year ended March 31, 2019.

Shares of Ceat Tuesday ended 0.82 per cent down at Rs 1,035.45 apiece on the BSE.