Ceat Q3 net profit dips 36% to Rs 52.24 crore

NEW DELHI: Tyre maker Ceat Monday reported a 36 per cent dip in its consolidated net profit to Rs 52.24 crore for the quarter ended December 2018.

The company had posted a net profit of Rs 82.10 crore for the corresponding period of the previous fiscal, Ceat said in a filing to the BSE.

Its consolidated total income stood at Rs 1,717.95 crore for the quarter, against Rs 1,580.78 crore for the same period a year ago.


Ceat Managing Director Anant Goenka said: "Our Q3 revenue, year-on-year, has witnessed an upward growth on the back of a strong performance in two-wheelers and commercial vehicle segments."

From a product launch perspective, the company is excited with the launch of the Gripp X3 and Milaze X3 products, he added.

Shares of Ceat closed at Rs 1,151.95 per scrip on the BSE, down 3.10 per cent from the previous close.