Ceat Q4 net profit rises 11.47% to Rs 104.69 cr

Tyre maker Ceat today reported a 11.47 per cent increase in its consolidated net profit at Rs 104.69 crore for the March quarter.
The company had posted a consolidated net profit of Rs 93.91 crore in the year-ago period, Ceat said in a BSE filing.
Net sales declined marginally to Rs 1,450.66 crore during the quarter under review as against Rs 1,457.96 crore in the corresponding quarter of previous fiscal.
For the entire fiscal, the company said its net profit rose 40.76 per cent at Rs 446.49 crore compared with Rs 317.18 crore in the previous fiscal.
Net sales were marginally down at Rs 5,680.94 crore for the 2015-16 fiscal as against Rs 5,704.77 crore in 2014-15, it added.

The company's Board did not recommend any final dividend and accordingly has confirmed interim dividend of 11.5 per cent as the final dividend of the financial year ended March 31, 2016, it said.

The Board had declared an interim dividend of Rs 11.5 per equity share of Rs 10 each for FY16.
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Gati Q4 net profit up 37% at Rs 16 cr
* Logistics firm Gati today reported a 37 per cent increase in its consolidated net profit at Rs 15.54 crore for the March quarter.
The company had posted a net profit of Rs 11.34 crore in the year-ago period, Gati said in a BSE filing.

The consolidated income from operations increased to Rs 428.04 crore in the period under review compared with Rs 415.93 crore in the same quarter last fiscal, it said.
The total expenses increased to Rs 400 crore in January-March of 2015-16 fiscal as against Rs 390.89 crore in the year-ago period.
In a separate filing, the company's Board has approved the "recommendation of final dividend @ 50 per cent i.E., Rs 1 per equity share of Rs 2 each for the year ended March 31, 2016, which shall be paid within 30 days from the conclusion of the ensuing AGM subject to shareholders approval."

The board today also approved the re-appointment of Mahendra Agarwal as the Managing Director for a period of five years, with effect from August 1, subject to shareholders approval.