Ceat declines despite reporting 7% rise in Q1 consolidated net profit
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Ceat is currently trading at Rs. 2684.80, down by 84.05 points or 3.04% from its previous closing of Rs. 2768.85 on the BSE.
The scrip opened at Rs. 2800.00 and has touched a high and low of Rs. 2810.90 and Rs. 2678.60 respectively. So far 10979 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2997.25 on 20-Jan-2024 and a 52 week low of Rs. 2055.05 on 09-Oct-2023.
Last one week high and low of the scrip stood at Rs. 2875.00 and Rs. 2645.40 respectively. The current market cap of the company is Rs. 10877.03 crore.
The promoters holding in the company stood at 47.21%, while Institutions and Non-Institutions held 35.86% and 16.93% respectively.
Ceat has reported 6.40% fall in its net profit at Rs 149.24 crore for for first quarter ended June 30, 2024 (Q1FY25) as compared to Rs 159.44 crore for the same quarter in the previous year. However, total income of the company increased by 8.06% at Rs 3,174.24 crore for Q1FY25 as compared to Rs 2,937.35 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 7.06% rise in net profit at Rs 154.18 crore for Q1FY25 as compared to Rs 144.01 crore for the same quarter in the previous year. Total income of the company increased by 8.87% at Rs 3,198.97 crore for Q1FY25 as compared to Rs 2,938.42 crore for the corresponding quarter previous year.
