BKT profit rises 22% in 2021-22

Although impacted by the rising cost of raw materials and logistics, off-highway tyre specialist BKT delivered a healthy profit in the financial year ending 31 March 2022. Profit after tax rose 22 per cent year-on-year to Rs 14.11 billion (£148.58 million) on the back of income that rose 47 per cent to Rs 84.19 billion (£886.52 million) and sales volumes that increased 27 per cent to 288,795 tonnes. EBITDA was, at Rs 21.82 billion (£229.76 million), up 21 per cent, with the margin contracting 5.6 percentage points to 25.9 per cent.

Reporting the company’s financial results for the financial year and final quarter, joint managing director Rajiv Poddar commented that the off-highway tyre industry “continues to see higher offtake on account of healthy demand across mining and agricultural markets.” He added that the BKT brand “continues to gain market share.”

Net profit for the fourth quarter of BKT’s financial year amounted to Rs 3.74 billion (£39.38 million), a year-on-year increase of one per cent. Sales volume was up 13 per cent to 77,119 tonnes, revenue increased 39 per cent to Rs 24.32 billion (£256.09 million) and EBITDA rose three per cent to Rs 5.76 billion (£60.65 million).