Balkrishna Industries dips post September quarter results

The stock dipped 10% to Rs 743 on National Stock Exchange.

Balkrishna Industries has dipped 10% to Rs 743 on National Stock Exchange (NSE) after reporting 16.5% year on year (yoy) decline in net profit at Rs 90.16 crore for the quarter ended September 30, 2014 (Q2) as compared to Rs 108 crore a year ago period.

Total operational income grew by 4.5% to Rs 881 crore in July-September quarter from Rs 840 crore in previous year quarter, while total expenditure rose 8.4% to Rs 733 crore on yoy basis.

Interest and finance charges increased by nearly three-times to Rs 13.13 crore from Rs 4.91 crore,  auto tyres and rubber products maker said in a statement,

The stock opened at Rs 797 and touched a low of Rs 730 on NSE. A combined 254,308 shares changed hands on the counter till 1031 hours on NSE and BSE.