Automotive chain and machined components manufacturer L.G. Balakrishnan & Bros Ltd registered a sharp jump in net sales and profit in the second quarter of 2011-12 compared to the corresponding quarter last year.
But for a higher tax and interest out go, the net profit would have been substantially higher.
According to the audited results, net sales jumped to Rs 236.85 crore in the second quarter this year compared with Rs 183.64 crore in the same period last year. Profit before interest was higher at Rs 25.30 crore (Rs 17.36 crore). But higher interest payment of Rs 4.57 crore (Rs 3.49 crore) and a larger tax outgo of Rs 5.91 crore (Rs 2.63 crore) restricted the net profit to Rs 14.81 crore (Rs 11.23 crore).
Earnings per share (share face value Rs 10) was Rs 18.88 (Rs 14.31).