Bharat Forge, Adlabs Films & Ispat Q1 results

CORPORATE SCORECARD

Bharat Forge Q1 PAT slips 49%

Automobile-component maker Bharat Forge posted a 49 per cent drop in profit during the first quarter of 2008 due to losses in foreign currency bonds. Net profit declined to Rs 40.91 crore in the three months ended June 30, 2008 from Rs 80.43 crore a year earlier, the Pune-based company said. Revenues rose by 22 per cent to Rs 1,320 crore.

The company recorded a loss of Rs 69.34 crore on foreign currency assets and loans due to the fluctuation in exchange rates, it said.

Adlabs Films profit at Rs 2.32 cr

Adlabs Films has posted a net profit of Rs 2.32 crore in the first quarter ended June 30,2008, as against Rs 21.17 crore in corresponding quarter last year. Total income during the quarter increased to Rs 253.5 crore from Rs 80 crore posted in the quarter ended June 30, 2007.

The company said that the results of the first quarter ended June 30, 2008 are not comparble to the comparative quarter and previous period ended March 31, 2008.

Ispat logs 243% rise in profit

Ispat Industries has recorded a net profit of Rs 28.73 crore in the first quarter ended June 30, 2008, an increase of 243.25 per cent over the same period last year, on the back of volume growth and higher margins. Profit before tax (PBT) was at Rs 45.77 crore, a three-fold increase over the previous year’s.

The PBT for Q1FY09 was however after considering a loss of Rs 189.62 crore on account of variation in foreign exchange rates in respect of the outstanding long-term foreign currency loans.