New Delhi, May 5 (PTI) Tyre major Ceat on Thursday reported an 84 per cent decline in its consolidated net profit to Rs 25 crore for the fourth quarter ended March 2022.

The company had posted a net profit of Rs 153 crore in the January-March quarter of 2020-21.

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Revenue from operations, however, increased to Rs 2,592 crore for the fourth quarter compared to Rs 2,290 crore in the year-ago period, Ceat Ltd said in a regulatory filing.

For the year ended March 2022, the company reported a consolidated net profit of Rs 71 crore against Rs 432 crore in 2020-21.

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Revenue from operations rose to Rs 9,363 crore compared to Rs 7,610 crore in FY21.

The company said its board has recommended a final dividend of Rs 3 per share (30 per cent) for the financial year 2022.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)