Ceat shares down 6% on disappointing FY’11 nos

Ceat reported an 83.71 per cent dip in consolidated net profit for the year ended March,31,2011,to Rs 26.46 crore,hit by high raw material costs,especially that of rubber.

The company had a net profit of Rs 162.47 crore in the same period of the previous fiscal.

The board of the company has declared a dividend of Rs 2 per share.

Meanwhile,the BSE 30-share Sensex,too,closed the day with a loss of 137.94 points at 18,998.02.