Ceat's shares surged by almost 6% to INR 1,748 on Friday after the tyre manufacturing company reported a consolidated net profit of INR 132.42 crore in the March quarter, a rise of over five-fold YoY, boosted by revenue growth and lower raw material costs. Revenue from operations during the period was INR 2,874.82 crore compared to INR 2,591.99 crore YoY. Ceat posted a consolidated net profit of INR 182.39 crore in the fiscal year ended 31 March 2023 from INR 70.58 crore YoY.
