Date:24/05/2005 URL: http://www.thehindubusinessline.com/2005/05/24/stories/2005052402760300.htm

Back Balakrishna Ind posts Rs 63.1-cr net profit

Our Bureau

Mumbai , May 23

BALAKRISHNA Industries Ltd has issued a bonus of one share for every two held. It has posted a net profit of Rs 63.1 crore for the year ended March against Rs 30.2 crore in the earlier year, a growth of 108 per cent.

Operating profit stood at Rs 117.7 crore for the year ended March 31, up 65 per cent from Rs 71.6 crore in FY 04. Total sales of the company grew by 32 per cent to Rs 502.4 crore (Rs 308.8 crore).

The company's net profit for the year stands at Rs 63.1 crore, a growth of 108 per cent (Rs 30.2 crore). The company has declared a final dividend of 45 per cent, which takes total dividend for the year to 100 per cent.

During the year, the company has increased its tyre production capacity to 60,000 tonnes per year and started production of radial tyres. Tyre division, which accounts for 75 per cent of the company's turnover is focusing on producing off-highway tyres for sectors such as agriculture, industry, material handling, construction and mining, as well as for other off-road usages, said a company release.