Bharat Forge Q4 net up 71 % annually

Forging major Bharat Forge has reported a 71% year on year jump in net profit to Rs 203 crore for the fourth quarter ended March 31, 2015 as against Rs 119 crore in the year ago quarter. Total revenue grew 31% at Rs 1,224 crore as compared to Rs 9,305 crore on y-o-y basis.

"On the business front, strong market share gain in the North American truck market, new customer additions in US and Europe, coupled with the entry into the premium Aerospace segment with 4 marquee customer contracts capped off a strong year," B.N. Kalyani, chairman & managing director, Bharat Forge said in a statement.

EBITDA or operating margins at 30% in Q4FY15 saw an improvement of 520 basis points compared to Q4FY14 primarily driven by increased capacity utilisation and favourable product mix, Bharat Forge said in a statement.

He added, "As we enter into FY16, we are witnessing growth in both commercial & passenger vehicle segment across our key markets. However, Industrial sectors are witnessing mixed fortunes due to the sudden slowdown in oil & gas markets and resultant impact on other industrial sectors. Mining continues to be sluggish as well. Overall, we expect topline growth to be better than the underlying market growth."