BKT Tyres Q2 Results 2023

Read this story to learn about Q2- highlights, performance, earnings, dividend updates, market performance, etc.,

Highlights of the Result

· Revenue from Operations was at ₹2,225.84 Cr · Net profit for Q2 FY’24 stood at ₹335.39 Cr · Profit Before Tax (PBT) fell 17% YoY to ₹443.84 Cr

Performance Highlights

· The Revenue from Operations saw a 17.69% decrease YoY · The Profit after tax (PAT) saw a decline of 16.94% YoY · The EBITDA of the company stood at ₹548 Cr, a 3% decline YoY

Major Announcements

To drive growth and assume better quality control, BKT will set up a mould manufacturing capacity, which will be a standalone project at Bhuj. This will require a capex spend of ₹300 Cr.

Company’s Expenses

Concomitantly, the expenses shot during the quarter. For the quarter under review, the company reported a total expense of ₹1,904.76 Cr (Consolidated Financial Figures (QoQ)).

Source: Balkrishna Industries Limited Financial Report – Q2 Report, BSE