Balkrishna Industries Q1 net profit rose 46.64% to Rs 149.05 crore


Balkrishna Industries gains 1.5% to Rs 907.30 at 10:25 Ist on Bse following net profit climb 46.64% to Rs 149.05 crore on 1.25% rise in total income to Rs 979.78 crore in Q1 June 2016 over Q1 June 2015. On Saturday, 10 September 2016 the result was declared. For now, the Bse Sensex was downward 393.83 points, or 1.37%, to 28,403.42. On BSE, so far 7,367 shares were buying and selling in the counter, contrast with an average quantity of 16,832 shares in the precedent one quarter.

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The stock hit an elevated of Rs 920 so far throughout the day, which is a proof towering for the stock. The stock hit a low down of Rs 899 so far through the day. On 26 February 2016 the stock hit a 52-week low of Rs 551.35. The stock had outperformed the market over the precedent one month till 9 September 2016, rising 21.73% in comparison with Sensex’s 2.54% gain.

The scrip had also outperformed the market in precedent one quarter, rising 32.41% as alongside Sensex’s 7.6% increase. The mid-cap corporation has an equity capital of Rs 19.33 crore. Face value per share is Rs 2. Balkrishna Industries has given a volume guidance of 1.6 lakh metric tonne to 1.7 lakh metric tonne for the year concluding 31 March 2017 (FY 2017). Earnings before interest, tax, depreciation and amortization (EBITDA) margin climbs to 28% in Q1 June 2016 in comparison with 12.8% in Q1 June 2015.

For FY 2017, the corporation has adopted strategy to augment consumption of Bhuj plant steadily, to add new geographies and deepen reach in the existing geographies, augment competitive edge and to repay debt of $92 million. Balkrishna Industries is a leading producer in the off-highway tire market. It focuses on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV and gardening applications.

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