Ceat Q1 net up 15% at Rs 82 cr

PTI New Delhi Aug 1 | Updated on August 01, 2019

Tyre maker Ceat on Thursday said its consolidated net profit rose 15.06 per cent to Rs 82.2 crore for the first quarter ended June 30, 2019.

The company had reported a net profit of Rs 71.44 crore during April-June, 2018-19. Revenue from operations rose to Rs 1,752.10 crore as compared with Rs 1,722.03 crore in the year-ago period.

“The impact of fall in demand from automobile manufacturers has been felt across the tyre industry. However, we have been able to counter the slowdown in OEM sales with replacement and export market sales,” Ceat Managing Director Anant Goenka said in a statement.

Ceat shares on Thursday ended 0.73 per cent down at Rs 810.15 apiece on the BSE.

Published on August 01, 2019

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