CEAT declines on reporting 23% fall in Q4 consolidated net profit
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Ceat is currently trading at Rs. 2515.90, down by 104.80 points or 4.00% from its previous closing of Rs. 2620.70 on the BSE.
The scrip opened at Rs. 2539.90 and has touched a high and low of Rs. 2571.75 and Rs. 2383.35 respectively. So far 23633 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. 1,629.20 on 03-May-2023.
Last one week high and low of the scrip stood at Rs. 2692.20 and Rs. 2383.35 respectively. The current market cap of the company is Rs. 10198.68 crore.
The promoters holding in the company stood at 47.21%, while Institutions and Non-Institutions held 36.06% and 16.73% respectively.
CEAT has reported results for fourth quarter (Q4) and year ended March 31, 2024.
The company has reported 9.80% fall in its net profit at Rs 119.06 crore for the quarter under review as compared to Rs 132.00 crore for the same quarter in the previous year. However, total income of the company increased by 4.09% at Rs 2,982.17 crore for Q4FY24 as compared Rs 2,864.97 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 22.77% fall in its net profit at Rs 102.27 crore for fourth quarter ended March 31, 2024 as compared to Rs 132.42 crore for the same quarter in the previous year. However, total income of the company increased by 4.09% at Rs 2,994.92 crore for Q4FY24 as compared Rs 2,877.21 crore for the corresponding quarter previous year.
For the year ended March 31, 2024, the company has reported over 3-fold jump in net profit at Rs 654.30 crore as compared to Rs 206.27 crore for the previous year. However, total income of the company increased by 5.46% at Rs 11,918.87 crore for year under review as compared to Rs 11,301.92 crore for year ended March 31, 2023.
For the year ended March 31, 2024, on the consolidated basis, the company has reported over 3-fold jump in its net profit at Rs 635.28 crore as compared to Rs 182.39 crore for the previous year. Total income of the company increased by 5.57% at Rs 11,963.21 crore for year under review as compared to Rs 11,331.82 crore for year ended March 31, 2023.
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