Balkrishna Industries Ltd. Reports Unaudited Standalone Earnings and Operating Results for the First Quarter Ended June 30, 2017; Provides Operating Guidance for Fiscal 2018
July 29, 2017 at 08:26 am EDT
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Balkrishna Industries Ltd. reported unaudited standalone earnings and operating results for the first quarter ended June 30, 2017. For the quarter, the company reported total income was INR 11,050.4 million against INR 9,627.0 million a year ago. Profit before exceptional items was INR 2,278.4 million against INR 2,276.7 million a year ago. Profit before tax was INR 2,278.4 million against INR 2,276.7 million a year ago. Profit for the period was INR 1,531.4 million against INR 1,490.6 million a year ago. Basic and diluted earnings per share were INR 15.84 against INR 15.42 a year ago. EBITDA was INR 2,750 million against INR 2,770 million a year ago. Revenue from operations was INR 10,130 million against INR 9,420 million a year ago.
For the quarter, volume growth were at 7% to 46,327 MT against 43,306 MT a year ago.
For the fiscal year 2018, the company provided volume guidance at 185,000 MT to 190,000 MT.
Balkrishna Industries Limited is an India-based company that is engaged in the business of manufacturing and selling of off-highway tires (OHT) in the specialist segments, such as agricultural, industrial and construction, earthmovers and port, mining, forestry, lawn and garden and all-terrain vehicles (ATV). The Companyâs agricultural applications include tractor, harvester, implements, telehandler, agro truck, go-kart, golf kart, mower, fertilizer truck, compact loader, backhoe loader, mobile home, and universal vehicle. Its industrial applications include compactor, container handler, reach stacker, excavator, forklift, skid steer, grader, straddle carrier, RTG crane, mobile crane, terminal tractor, tow tractor, light truck, road rail equipment, trailer, and military truck. Its off the road applications include articulated dump truck, rigid dump truck, load haul dump, low profile dump truck, underground mining vehicle, and scraper.
Balkrishna Industries Ltd. Reports Unaudited Standalone Earnings and Operating Results for the First Quarter Ended June 30, 2017; Provides Operating Guidance for Fiscal 2018