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Tyre manufacturer Ceat on Friday declared a 50 per cent rise in consolidated net profit for the quarter ended March at Rs 93.9 crore against Rs 62.4 crore posted a year ago.
The company reduced its finance costs substantially during the quarter by 27 per cent, which resulted in the net growth despite flat net sales.
Consolidated net sales grew by two per cent during the period to Rs 1,466 crore against Rs 1,443 crore posted a year ago. Managing director Anant Goenka said the company experienced a steady growth in FY15.
