Ceat Ltd on Monday reported 69.64 per cent increase in its consolidated net profit for the quarter ended September 30 at Rs 3.80 crore as against a net profit of Rs 2.24 crore in the corresponding period last year.
The net income during the second quarter also went up by 6.02 per cent to Rs 1,222.01 crore(Rs 1,152.58 crore)
Commenting on the numbers, Ceat Managing Director Anant Goenka said: “Q2 is historically a sluggish quarter for the tyre industry on account of the seasonal impact of monsoons.
Conversely, despite the challenging macroeconomic environment, we closed the second quarter of this fiscal year on an optimistic note.”
Shares of Ceat ended lower by 6.54 per cent to Rs 109.95 apiece on the BSE.