ICICI Direct has come out with its first quarter (April-June’ 21) earnings estimates for the Auto and Auto Ancillary sector. The brokerage house expects Balkrishna Industries to report net profit at Rs. 310 crore up 154.3% year-on-year (down 16.8% quarter-on-quarter).
Net Sales are expected to increase by 80.5 percent Y-o-Y (down 4 percent Q-o-Q) to Rs. 1,676 crore, according to ICICI Direct.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 110.5 percent Y-o-Y (down 10.4 percent Q-o-Q) to Rs. 485 crore.
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