Ceat reports decline in Q4 net profit

(20 second reading) Tyre maker Ceat announced that its net profit dropped 22.76% year-on-year to Rs.102.27 crore for the Q4 that ended March 31, 2024, from Rs.132.4 crore in the year-ago period.
The company’s revenue from operations grew 4.1% to Rs.2,991.9 crore compared to Rs.2,874.8 crore in the same period last fiscal year.
Additionally, at the operating level, its EBITDA rose by 6.5% to Rs.391.7 crore in this fiscal quarter from Rs.367.8 crore in the corresponding period of the previous fiscal year.
The board has proposed a final dividend of Rs.30 per equity share, equivalent to 300% of the face value of Rs.10 each fully paid up