Tyre major Ceat has reported results for its third quarter ended December 31, 2011.
The company has posted a 52.30% decline in its net profit of Rs 2.39 crore for the quarter ended December 31, 2011 as compared to Rs 5.01 crore for the same quarter in the previous year. Net sales of the company increased by 18.18% to Rs 1,048.02 crore for the quarter compared to Rs 886.77 crore for the corresponding quarter of the preceding year.
The company has reported that the results were adversely impacted by an illegal strike of workers at its Nasik factory from September 30, 2011 to October 22, 2011.
