Ceat skids into red
By
Research Desk
about 10 years ago
The market is not too happy with the financial performance of Ceat for Q4 and FY14 and this is reflected in its stock price, which has fallen over 3% today morning at Rs.396 levels, with the intra day low being at Rs.394.
The company, for Q4FY14 posted a 8% (YoY) rise in consolidated net revenue at Rs.1444 crore but ended the quarter with a 5% (YoY) and drop of 6% (QoQ) in net profit at Rs.62 crore. This was mainly on account of the 7% rise in operating costs, fall in other and other operating income, an exceptional expenditure of Rs.10 crore and tax outgo burgeoning from Rs.19 crore to Rs.31 crore (YoY).