Ceat’s net profit declines in first quarter

Chennai, July 28 (IANS) Tyre maker Ceat Ltd on Thursday said it closed the first quarter of the 2016-17 fiscal with a lower net profit.

In a regulatory filing with the BSE, the company said it has posted a net profit of Rs 96. 49 crore for the quarter ended June 30, 2016, as compared to Rs 119.38 crore for the quarter ended June 30, 2015.

The company's total income has increased from Rs 1,416.76 crore for the quarter ended June 30, 2015, to Rs 1,462.70 crore for the quarter ended June 30, 2016.