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Home Citizen News Ceat Shares Hit 52-Week High As Q3 Profit More Than Doubles

Ceat Shares Hit 52-Week High As Q3 Profit More Than Doubles

On Wednesday, shares of Ceat Limited rose as much as 6.2% to hit a fresh 52-week high of Rs 1,353 on NSE after the company reported strong earnings for the December-ended quarter. Its consolidated net profit more-than-doubled to Rs 132 crore in December 2020 from Rs 53 crore in December 2019. Net revenue from operations grew by 26% at Rs 2,221 crore against Rs 1,762 crore in the corresponding quarter of previous fiscal. Ceat Shares Hit 52-Week High As Q3 Profit More Than Doubles Ceat Limited reported EBITDA (earnings before interest, taxes, depreciation, and amortization) margin expansion of 460 basis points (bps) at 15.3% for the third quarter of FY21, over the same period a year ago.

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