Ceat gains 3% as Q4 net profit rises 16%; recommends Rs 11.50 dividend

Shares of Ceat rose 3.5 percent intraday Wednesday on the back of strong fourth quarter numbers.

The company's Q4FY18 net profit rose 16 percent at Rs 76.81 crore and revenue increased 13.7 percent at Rs 1,673.9 crore.

The company considered and recommended a dividend of Rs 11.50 per equity share for the financial year ended March 31, 2018.

At 12:24 hrs Ceat was quoting at Rs 1,627.95, up Rs 36.05, or 2.26 percent on the BSE.