Balkrishna Industries Ltd.(NSE: BALKRISIND): Q3 FY23 Results Out; Total Income rises 2% YoY

Balkrishna Industries Limited (NSE:BALKRISIND) is an Indian multinational company that specializes in the manufacture of off-highway tires and rubber products. The company is headquartered in Mumbai, India and has operations in multiple countries across the world. The company has a strong presence in the Indian market and is known for its high-quality tire products used in various industrial and agricultural applications.

The company declared its Q3 earnings along with a 3rd Interim dividend of Rs. 4.00 per Equity Share (200%) for the financial year 2022-23. In Q3FY23, the company recorded a net profit of ₹108.38 crore compared to ₹338.95 crore in Q3FY22, representing a decline of 68%. The revenue from operations for the quarter ended December 2022 was ₹2165.57 crore, an increase of 5.85% compared to the corresponding quarter of the previous year. The net expenses for Q3FY23 were ₹2059.06 crore compared to ₹1708.78 crore in the same quarter last year. The EPS for the quarter was ₹5.61 as compared to ₹17.53 in the same quarter of the previous year.

The company’s total income for the period ended December 31, 2022 was ₹2210.54 crore compared to ₹2158.85 crore for the same period in the previous year. The net profit for the period was ₹108.38 crore compared to ₹338.95 crore for the same period in the previous year. The EPS for the period was ₹5.61 compared to ₹17.53 for the same period in the previous year.