Ceat posts Q1 net profit at Rs 29.01 cr

Tyre maker Ceat today reported a consolidated net profit of Rs 29.01 crore for the quarter ended June 30, 2012.

The company had posted a net loss of Rs 41.05 crore for the corresponding period previous fiscal, Ceat Ltd said in a filing to the BSE.

Total income from operations for the company rose to Rs 1,232.45 crore for the reported quarter from Rs 1,114.37 crore during the same period last year.

The company manufactures tyres for most Indian vehicles including trucks, light commercial vehicles, passenger cars, utility vehicles, tractors, truck trailers and two-wheelers, Ceat said.

Shares of Ceat Ltd today closed at Rs 102.50 per scrip on BSE, up 4.54% from its previous close.