INSUBCONTINENT EXCLUSIVE:
Tyremaker Ceat went full throttle on Friday as the stock rallied over 5 per cent after the company posted a staggering 4,346 per cent jump
in consolidated net profit for the June quarter.
For April-June, Ceat registered a profit of Rs 72.03 crore compared with Rs 1.62 crore a
year ago.
The growth in earnings numbers came about chiefly because of cost control measures put in place by the company
Total expenditure declined to Rs 1,596.88 crore in Q1 FY19, from Rs 1,636.14 crore in the same period last year.
The scrip climbed 5.30 per
cent to Rs 1,327.50 at around 2.10 pm
The BSE Sensex was up 88 points, or 0.24 per cent, at 36,439.
Consolidated total income jumped 4.33 per cent YoY to Rs 1,710 crore during
the quarter under review.
Earnings per share (EPS) stood at Rs 17.81 for the quarter under review as against Rs 0.40 in the previous year.
