Ceat shares down 1.5% after Q4 earnings

Shares of tyre manufacturer Ceat Ltd today fell by over 1 per cent after the company reported 32.5 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2017.
The stock ended 1.48 per cent down at Rs 1,520.80 on BSE. During the day, it slipped 2.48 per cent to Rs 1,505.25.
On NSE, it went down by 1 per cent 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 today reported 32.5 per cent 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 per cent.