CEAT PAT declined 5.8% qoq, stock down 1.5%

Ceat Ltd reported its results for the quarter ended December 31, 2016 today.

The company's total sales for Q3FY17 came in at Rs 1472 crore, which represents a 5.31 per cent sequential increase and 5.52 per cent YoY increase.

The company reported PAT of Rs. 74.26 crore, which represents a sequential QoQ decline of 5.77 per cent and a YoY decline of 24.97 per cent. This QoQ decline was in the wake of 79% drop in other income and nearly 10% rise in finance costs.

The company’s stock opened at Rs 1542.8 and declined 1.3% at Rs 1523 after the results. The stock hit an intra-day high and low of Rs 1551.85 and Rs 1505.25, respectively.

Ceat Ltd is an India-based tyre manufacturing company. It manufactures, exports and supplies automobile tyres. The company manufactures tyres for trucks and buses, LCVs, passenger cars, tractors and trailers, two-wheelers and three-wheelers, off the road vehicles and industrial vehicles.