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Ceat Q3 net profit increases three-fold

Ceat Ltd ‘s consolidated net profit rose around three-fold to Rs66.95 crore for the third quarter ended December 2013 from a net profit of Rs 22.43 crore for the corresponding period of last fiscal.

The Mumbai-based company reported consolidated net sales of Rs1,428.18 crore for the quarter. Ceat’s third quarter consolidated net sales of last fiscal stood at Rs1,239.03 crore.

The company has announced a voluntary retirement scheme (VRS) for its employees on January 24, 2014, which will be open for application from February 15 till March 15, 2014.

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