CEAT Q2 Results Live: Profit Falls by 41.4% YOY

CEAT Q2 Results Live : CEAT declared its Q2 results on October 17, 2024, revealing a mixed performance for the quarter. The company reported a revenue increase of 8.23% year-over-year, indicating a positive trend in sales. However, this was overshadowed by a significant decline in profit, which fell by 41.4% compared to the same quarter last year.

When comparing the latest quarter to the previous quarter, CEAT saw a revenue growth of 3.5%. Nonetheless, the profit still decreased by 20.94%, highlighting challenges in maintaining profitability despite rising sales.

The company's Selling, General & Administrative (SG&A) expenses rose sharply, increasing by 11.94% quarter-over-quarter and 0.59% year-over-year. This rise in expenses contributed to the decline in operating income, which fell by 12.93% compared to the previous quarter and 32.11% on a year-over-year basis.

Earnings per Share (EPS) for Q2 were reported at ₹30.14, marking a decrease of 41.39% compared to last year. This decline in EPS may raise concerns among investors about the company's profitability moving forward.

In terms of stock performance, CEAT has delivered a -3.06% return in the last week, although it has shown a more favorable return of 15.49% over the past six months and 19.15% year-to-date. Currently, the company's market capitalization stands at ₹11,697.16 crore, with a 52-week high of ₹3,263 and a low of ₹2,060.

Analysts' sentiment towards CEAT is varied. As of October 18, 2024, out of 20 analysts covering the company, 2 have issued a Strong Sell rating, 2 have rated it as Sell, 3 have given Hold ratings, 3 have recommended Buy, and 10 have provided a Strong Buy rating. The consensus recommendation remains to Buy, indicating some confidence in the company's long-term potential despite recent profit challenges.