Ceat shares up nearly 3% after Q4 net profit rises

Shares of tyre maker Ceat today rose by nearly 3 per cent after the company reported a 11.47 per cent rise in consolidated net profit for the March quarter.
The stock climbed 2.68 per cent to Rs 1,149.95 on BSE.
At NSE, shares of the company went up by 2.65 per cent to Rs 1,151.40.
Yesterday, Ceat reported a 11.47 per cent increase in its consolidated net profit at Rs 104.69 crore for the March quarter.
The company had posted a consolidated net profit of Rs 93.91 crore in the year-ago period.
Net sales declined marginally to Rs 1,450.66 crore during the quarter under review as against Rs 1,457.96 crore in the corresponding quarter of previous fiscal.

For the entire fiscal, the company said its net profit rose 40.76 per cent at Rs 446.49 crore compared with Rs 317.18 crore in the previous fiscal.