Ceat shares tumble 10% after Q2 results

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.

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. (Representative image, source: Facebook/CEAT Tyres)

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.

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.

Story continues below this ad

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.

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:
Ceat

Modi speaks to Trump, Netanyahu: ‘Historic’

‘That’s a big step’: Trump says PM Modi ‘assured’ him India won’t purchase Russian oil

India1 hr ago

US President Donald Trump claims that Indian Prime Minister Narendra Modi has promised to stop purchasing Russian oil, after the US imposed tariffs on India for those imports. Trump plans to pressure China to do the same in an effort to cut off Moscow's energy revenues. He also speaks highly of his relationship with PM Modi and their recent discussions regarding India's imports of Russian oil.

View all shorts

Live Blog

PHOTOS