Tyre maker CEAT's profit plunges 98.6% to â¹1.38 crore
Tyre manufacturer CEAT on Thursday reported a 98.6% decline in its net profit at â¹1.38 crore for the June quarter. The company had posted a net profit of â¹103.26 crore during the corresponding period of the previous fiscal. The fall in profit was mainly due to de-stocking by trade partners ahead of the GST rollout, and higher expenses.