ERJ staff report (DS)
Tarapur, Maharashtra, India - Balkrishna Industries has reported a big jump in sales and profits for the three months to 31 December 2012.
Net sales for the three months increased by over 50 percent to Rs 7588 million (euro 117 million) compared with Rs 4950 million in the same period a year ago. Operating profit nearly doubled to Rs 1228 million compared with Rs 679 million a year earlier. Net profit increased by the same margin to Rs 729 million from Rs 382 million a year earlier.
Volumes for the quarter were at 35,534 tonnes, up 28 percent on the same period a year ago. BKT said this growth came on the back of capacity increases at its Bhiwadi and Chopanki plants and robust demand for OTR and agricultural tyres around the world.
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Press release from BKT
Equity Bulls (India)