Shares of tyre maker CEAT plummeted 9% to Rs 2,383 in Friday s intraday trade on BSE after the company reported a 23% decline in its net profit to Rs 102 crore for the fourth quarter ended March 2024. The company had posted a net profit of Rs 132 crore in the January-March quarter of 2022-23.
Ceat s Q4 FY24 net profit dropped to ₹102 crore, revenue rose to ₹2,992 crore. FY24 net profit was ₹635 crore, revenue reached ₹11,943 crore. Board okayed a final dividend of ₹30 per share for FY24.