The market is not too happy with the financial performance of Ceat for Q4 and FY14 and this is reflected in its stock price, which has fallen over 3% today morning at Rs.396 levels, with the intra day low being at Rs.394.

The company, for Q4FY14 posted a 8% (YoY) rise in consolidated net revenue at Rs.1444 crore but ended the quarter with a 5% (YoY) and drop of 6% (QoQ) in net profit at Rs.62 crore. This was mainly on account of the 7% rise in operating costs, fall in other and other operating income, an exceptional expenditure of Rs.10 crore and tax outgo burgeoning from Rs.19 crore to Rs.31 crore (YoY).