The company had reported a net profit of Rs 112.65 crore during the same period of the previous fiscal.
Net sales of the company rose however to Rs 1,460.92 crore for the April-June quarter of the current fiscal as against Rs 1,404.15 crore during the same period of 2015-16, Ceat Ltd said in a BSE filing.
"Margins have declined largely due to higher investment in the brand and some price drops that were passed on to the consumers," Ceat Ltd Managing Director Anant Goenka said.
The company is seeing strong growth in the domestic market with volume growth of over 15 per cent aided by the company's focus on the passenger segments, he added.
Ceat shares ended 0.39 per cent up at Rs 883.70 apiece on BSE.
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.