Companies & Industry »Company News»Company News Details
Company News Details

BSE   19 Jun 19 | 12:00 AM

739.70 0.95 (0.13%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 502355
Face Value: N.A.

NSE   19 Jun 19 | 12:00 AM

739.50 0.35 (0.05%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: BALKRISIND
Performance
1 Week : Rs 779.70 (-5.13%)
1 Month : Rs 794.30 (-6.87%)
1 Year : Rs 1,124.50 (-34.22%)
change companytradenow
Back

Balkrishna Industries hits new high on strong Q1 earnings

SI Reporter / Mumbai 12 Sep 16 | 09:46 AM

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai

Balkrishna Industries hit a record high of Rs 920, up 3% on the BSE in an otherwise weak market after reporting 47% year-on-year (YoY) growth in net profit at Rs 149 crore for the quarter ended June 30, 2016 (Q1FY17), on back of strong volume growth. The company engaged in tyres business had profit of Rs 102 crore in a year ago quarter.

Widgets Magazine

The company said it achieved sales of 41,456 MT (+11% YoY) in the reporting quarter. It has given volume guidance at 160,000 MT- 170,000 MT for the financial year 2016-17 (FY17).

The EBITDA (earnings before interest, taxes, depreciation and amortization) margin expanded to 28% in Q1FY17 from 12.8% in Q1FY16, due to lower raw material and other expenses.

After an initial spurt in raw material prices in April & May, rubber prices have stabilized, it added.

Total sales revenue during the quarter under review grew 8.4% at Rs 928 crore on YoY basis.

At 09:43 am, the stock was up 2.4% at Rs 915 on the BSE, as compared to 1.4% or 403 points decline in the S&P BSE Sensex. A combined 84,619 shares changed hands on the counter on the BSE and NSE so far.

Widgets Magazine

Sensex

Company Price Gain (%)
Tata Steel494.504.60
Kotak Mah. Bank1,498.402.44
NTPC134.601.58
Power Grid Corpn200.801.57
H D F C2,178.301.11

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine