Mumbai/IBNS, July 17 -- Shares of CEAT Ltd. fell more than 9 percent on Friday after the tyre manufacturer reported a sharp decline in its first-quarter earnings for FY2027, according to media reports.

Revenue grows, but profit nosedives

CEAT's revenue from operations rose 22.4 percent year-on-year to Rs. 4,318 crore in the first quarter of FY2027, compared to Rs. 3,529 crore in the corresponding period last year.

However, the company's net profit plunged 96.4 percent to Rs. 4 crore from Rs. 112 crore a year earlier, primarily due to higher raw material costs, foreign exchange losses and acquisition-related expenses.

Margins under pressure

The tyre maker's EBITDA declined 5.7 percent year-on-year to Rs. 365 crore, compared with Rs. 3...