CEAT PAT declined 5.8% qoq, stock down 1.5%
Bhagyashree Vivarekar / 28 Apr 2017
Ceat Ltd reported its results for the quarter ended December 31, 2016 today. The company’s stock opened at Rs 1542.8 and declined 1.3% at Rs 1523 after the results.
Ceat Ltd reported its results for the quarter ended December 31, 2016 today.
The company's total sales for Q3FY17 came in at Rs 1472 crore, which represents a 5.31 per cent sequential increase and 5.52 per cent YoY increase.
The company reported PAT of Rs. 74.26 crore, which represents a sequential QoQ decline of 5.77 per cent and a YoY decline of 24.97 per cent. This QoQ decline was in the wake of 79% drop in other income and nearly 10% rise in finance costs.
The company’s stock opened at Rs 1542.8 and declined 1.3% at Rs 1523 after the results. The stock hit an intra-day high and low of Rs 1551.85 and Rs 1505.25, respectively.
Ceat Ltd is an India-based tyre manufacturing company. It manufactures, exports and supplies automobile tyres. The company manufactures tyres for trucks and buses, LCVs, passenger cars, tractors and trailers, two-wheelers and three-wheelers, off the road vehicles and industrial vehicles.
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