Ceat shares tumble 10% after Q2 results

Tyre maker Ceat Ltd on Monday reported a 77 per cent decline in consolidated net profit at Rs 42.28 crore for the second quarter ended September 30, impacted by higher input costs

The stock tanked 9.92 per cent to Rs 1,165 on the BSE. Source: PTI

Shares of tyre maker Ceat Ltd on Tuesday tumbled nearly 10 per cent after the company reported a 77 per cent decline in consolidated net profit for the second quarter ended September 30.

The stock tanked 9.92 per cent to Rs 1,165 on the BSE.

At the NSE, it tumbled 7.94 per cent to Rs 1,191.

TRENDING NOW

Tyre maker Ceat Ltd on Monday reported a 77 per cent decline in consolidated net profit at Rs 42.28 crore for the second quarter ended September 30, impacted by higher input costs.

The company, which posted a consolidated net profit of Rs 182.18 crore in the same quarter last fiscal, also said its board at a meeting held on Monday approved raising of up to Rs 500 crore through issuance of debt securities on a private placement basis.

See Zee Business Live TV Streaming Below:

Consolidated revenue from operations during the quarter under review stood at Rs 2,451.76 crore, as against Rs 1,978.47 crore in the year-ago period, Ceat Ltd said in a regulatory filing.

TAGS: