Balkrishna Industries reported 42.3% rise in consolidated net profit to Rs 264.70 crore on 1.2% rise in revenue from operations to Rs 1372.27 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax (PBT) stood at Rs 346.31 crore in Q4 March 2020, rising 24.5% from Rs 278.02 crore in the same period last year. Total tax expense fell 11.3% to Rs 81.61 crore in Q4 March 2020 over Q4 March 2019. The company received a deferred tax rebate of Rs 11.18 crore in Q4 March 2020."The second phase of carbon black project of 80,000 MTPA was commissioned on 12 March 2020. The green field tyre project and other capital expenditure at Bhuj plant of th company were temporarily suspended due to Covid-19 pandemic, which were resumed after lockdown was lifted. The company is trying to complete all these projects as per schedule before 31 March 2021 but could be delayed by one quarter provided there is no further lockdown or any unforeseen circumstances," the company stated.
Balkrishna Industries is a tyre manufacturing company. The company manufactures off-highway tires used in specialist segments like mining, earthmoving, agriculture and gardening.
Shares of Balkrishna Industries fell 0.27% at Rs 1218.45 on Friday. The stock has risen 28.35% in last one month compared with 20.93% rise in Nifty Auto index.
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