MAHARASHTRA, India (Aug. 5, 2014) — Agricultural tire specialist Balkrishna Industries Ltd. reported double-digit growth in sales and earnings for the quarter ended June 30, the company’s fiscal 2015 first quarter.
Pre-tax operating income jumped 22.8 percent to $40.2 million on 17.8-percent higher sales of $161.8 million, raising the operating marging three points to 24.9 percent.
Profit after taxes rose 12.3 percent to $19.4 million. Sales volume was up 12.2 percent to 3.92 million metric tons.
BKT management did not comment on the reasons for the earnings improvements, disclosed on the firm’s website.
The tire maker did say in its report that North America represents 19 percent of its global sales volume. Agricultural tires make up 65 percent of the firm’s annual sales, with OTR accounting for 32 percent and “others” 3 percent.
When is the last time you attended one of the national tire industry trade shows, such as SEMA, ITEC or the North American Tire & Retread Expo?
|I try and take in at least one show a year.||
|I usually attend one every few years.||
|There are so many tire maker and distributor meetings each year, I don’t see a need to attend one of the national shows.||
|I don’t find value in these shows and haven’t been to one in years.||
|I’d like to but I am too busy||