Latest News | Ceat Shares Tumble 10 Pc After Q2 Results

New Delhi, Oct 26 (PTI) Shares of tyre maker Ceat Ltd on Tuesday tumbled nearly 10 per cent after the company reported a 77 per cent decline in consolidated net profit for the second quarter ended September 30.

The stock tanked 9.92 per cent to Rs 1,165 on the BSE.

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At the NSE, it tumbled 7.94 per cent to Rs 1,191.

Tyre maker Ceat Ltd on Monday reported a 77 per cent decline in consolidated net profit at Rs 42.28 crore for the second quarter ended September 30, impacted by higher input costs.

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The company, which posted a consolidated net profit of Rs 182.18 crore in the same quarter last fiscal, also said its board at a meeting held on Monday approved raising of up to Rs 500 crore through issuance of debt securities on a private placement basis.

Consolidated revenue from operations during the quarter under review stood at Rs 2,451.76 crore, as against Rs 1,978.47 crore in the year-ago period, Ceat Ltd said in a regulatory filing.

(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)