Ceat rides well
By
Ruma Dubey
about 5 years ago
Ceat is up in the green after it reported better-than-expected earnings for Q4FY20 despite the Covid outbreak.
The company posted an over 19% (YoY) decline in consolidated net profit at Rs 52 crore and revenue from operations fell 11% at Rs.1573 crore.
It's standalone EBITDA logged a 14.4 per cent YoY rise at Rs 190 crore for Q4FY20, while margin improved to 12.5 per cent, up 280 bps YoY.
The company said that it has resumed operations at most of its factories with easing in lockdown restrictions, and is gradually witnessing pick up in demand as well.
The stock, which had closed yesterday at Rs.771.10, opened today at Rs.799 and went on to an intraday high at Rs.820. It is currently trading at Rs.800.