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CEAT net profit down 84 per cent at Rs 25 crore in Q4

New Delhi, May 5 (PTI) Tire company CEAT reported a 84 per cent decline in consolidated net profit for the fourth quarter of the financial year ended March 2022 at Rs 25 crore. The company gave this information on Thursday.

The company had made a net profit of Rs 153 crore in the same period of the financial year 2020-21.

CEAT said in a communication to the stock exchanges that the company’s fourth quarter operating income, however, increased to Rs 2,592 crore from Rs 2,290 crore in the year-ago period.

The company’s consolidated net profit stood at Rs 71 crore for the financial year ended March, 2022. Earlier it was Rs 432 crore in the financial year 2020-21.

Operating income increased to Rs 9,363 crore in FY 2021-22 from Rs 7,610 crore in 2020-21 a year ago.

The company said that its board of directors has recommended a final dividend of Rs 3 per share, or 30 per cent, for the financial year 2021-22.

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