Balkrishna Industries hit an upper circuit of 5% at Rs 2,798.95 after the firm reported 88% jump in net profit to Rs 480.85 crore on 15.31% rise increase in revenue from operations to Rs 2,673.08 crore in Q4 FY24 over Q3 FY24.
Profit before tax soared to Rs 646.84 crore in the quarter ended 31 March 2024, registering a growth of 81.89% on YoY basis.During Q4 FY24, total expenses increased 9.25% YoY to Rs 2,205.82 crore. Cost of materials consumed was at Rs 1,219.44 crore (up 7.31% YoY), employee benefits expense was at Rs 130.38 crore (up 13.38% YoY) and finance costs stood at 30.87 crore (down 18.27 YoY) during the period under review.
EBITDA increased 42% YoY to Rs 699 crore during the quarter as compared with Rs 494 crore posted in same quarter last year. EBITDA margin improved to 25.9% in Q4 FY24 as against 21.3% in Q4 FY23.
The overall sales volumes stood at Rs 82,085 MT in Q4 FY24, up 13% as compared with Rs 66,480 MT in Q4 FY23, up 9% YoY.
On a full year basis, the consolidated net profit increased 39.16% to Rs 1,471.49 crore despite of 4% fall in revenue from operations to Rs 9,368.87 crore in FY24 over FY23.
Meanwhile, the board has declared final dividend of Rs 4 per equity share for the financial year 2023-24.
Balkrishna Industries is engaged in the business of manufacturing and selling of Off-Highway Tyres (OHT) in the specialist segments such as agricultural, industrial & construction, earthmovers & port, mining, forestry, lawn & garden and all terrain vehicles (ATV).
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