Ceat profit slips 66%

MUMBAI: Ceat said its net profit declined by 66% to Rs 15.3 crore for the quarter ended March 31, 2010 over the same period last year. Total income rose to Rs 780.7 crore for the quarter ended March 31, from Rs 588.8 crore in the same period last year, Ceat said in a filing to BSE. The board of directors has proposed a dividend of Rs 4 per share to shareholders. For the year ended March 31, 2010, the company has posted a net profit of Rs 161 crore, while it had a net loss of Rs 16 crore in the same period last year.