During September 2019 quarter, the company had guided for a better volume performance in H2FY20 (October-March) over H1FY20, and remain confident on the same. The company said it expects to end FY20 with minor de-growth on sales volumes. The management believes the company will continue to gain market share across segments in the years to come.
continue to remain challenging. However, with improving global macro-economic situation and expectation of better weather conditions and therefore the company’s business may see better growth in FY21 compared to the current year,” the management said while announcing December quarter (Q3FY20) results on Friday after market hours.
Meanwhile, Balkrishna Industries
reported 27 per cent year-on-year (YoY) growth in profit before tax (PBT) at Rs 275 crore for Q3FY20, on the back of strong operational performance. The company’s reported earnings before interest, tax, depreciation, and amortisation (Ebitda) margin improved 590 basis points (bps) at 31.2 per cent against 25.3 per cent in the year ago quarter. Net profit during the quarter under review grew by 52 per cent at Rs 221 crore, despite 3.7 per cent fall in operational revenues at Rs 1,161 crore on YoY basis.
The board has declared third interim dividend of Rs 16 per equity share (800%) on the equity shares of Rs 2 each for FY20. The company has fixed February 25, 2020 as record date for the same.