Ceat posts loss of Rs.16 crore in 2008-09

New Delhi, April 29 (Inditop) Tyre maker Ceat Ltd Wednesday reported a loss of Rs.16.12 crore for the year ended March 31, 2009, even as the company’s total income rose by a marginal 8 percent from the year before.

In 2007-08, the company had posted a net profit of Rs.148 crore.

The total income of Ceat stood at Rs.2,555 crore last fiscal, marginally up from Rs.2,352 crore the year before, the company said in a regulatory statement.

For the January-March quarter, Ceat’s total income fell 3 percent to Rs.631 crore from Rs.652 crore in the like period of the previous fiscal.

The net profit during the quarter dropped sharply by 41 percent to Rs.45 crore from Rs.76.9 crore a year ago.