Off-highway tyre major Balkrishna Industries Ltd (BKT) on Wednesday (January 24) reported a 181.71% year-on-year (YoY) jump in net profit at ₹305.4 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, Balkrishna Industries posted a net profit of ₹108.4 crore, the company said in a regulatory filing. The company's revenue from operations increased 5% to ₹2,274.4 crore as against ₹2,165.6 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA stood at ₹540.6 crore in the third quarter of this fiscal over ₹269.3 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 23.8% in the reporting quarter as compared to 12.4% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The board has declared 3rd interim dividend of ₹4.00 per equity share (200%) on the equity shares of ₹2 each (face value) for the financial year 2023-24. The payment shall be credited/dispatched within 30 days from the date of declaration as per applicable provisions of the Companies Act, 2013, to such shareholders as on record date i.e. February 2, 2024.
The results came after the close of the market hours. Shares of Balkrishna Industries Ltd ended at ₹2,709.50, up by ₹88.30, or 3.37% on the BSE.
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