CEAT shares rally nearly 5% as Q1 profit zooms

New Delhi: Shares of CEAT Ltd on Wednesday jumped nearly 5 per cent after the company reported a multi-fold jump in consolidated net profit for the June quarter.

The stock gained 4.66 per cent to Rs 2,592.50 on the BSE.

At the NSE, it rallied 4.90 per cent to Rs 2,598.

Tyre maker CEAT on Tuesday reported a multi-fold jump in consolidated net profit at Rs 144.01 crore for June quarter 2023-24.

The company had posted a net profit of Rs 8.68 crore for the year-ago period, CEAT said in a regulatory filing.

Revenue from operations was at Rs 2,935.17 crore as against Rs 2,818.38 crore a year ago, it added.

Total expenses were also lower at Rs 2,739.14 crore as compared to Rs 2,816.66 crore in the same period a year ago.