19 Jul 2024

Ceat Shares Fall Despite 7% Rise in Q1 Consolidated Net Profit

Ceat's stock price currently stands at Rs. 2684.80, marking a decline of 84.05 points or 3.04% from its previous closing of Rs. 2768.85 on the BSE.

The stock opened at Rs. 2800.00, reaching a high of Rs. 2810.90 and a low of Rs. 2678.60 during the session. A total of 10,979 shares have been traded so far.

This BSE group 'A' stock, with a face value of Rs. 10, hit a 52-week high of Rs. 2997.25 on January 20, 2024, and a 52-week low of Rs. 2055.05 on October 9, 2023.

In the past week, the stock's high and low were Rs. 2875.00 and Rs. 2645.40, respectively. The company's current market capitalization is Rs. 10,877.03 crore.

The promoter's holding in the company is 47.21%, while institutions and non-institutions hold 35.86% and 16.93%, respectively.

For the first quarter ended June 30, 2024 (Q1FY25), Ceat reported a 6.40% decrease in net profit to Rs. 149.24 crore, compared to Rs. 159.44 crore in the same quarter the previous year. However, the company's total income rose by 8.06% to Rs. 3,174.24 crore for Q1FY25, compared to Rs. 2,937.35 crore in the corresponding quarter of the previous year.

On a consolidated basis, Ceat's net profit increased by 7.06% to Rs. 154.18 crore for Q1FY25, compared to Rs. 144.01 crore in the same quarter the previous year. The company's total income also grew by 8.87% to Rs. 3,198.97 crore for Q1FY25, compared to Rs. 2,938.42 crore in the corresponding quarter of the previous year.