Bharat Forge clocks profit of Rs 309 crore in Q3 of 2018-19

Engineering major Bharat Forge, part of the three billion dollar Kalyani Group, on Wednesday reported that its revenue from operations moved up to Rs 1,692 crore during the third quarter (October to December) of current fiscal year 2018-19.

In Q3 of 2017-18, the revenue totalled Rs 1,390 crore.

The profit moved from Rs 228 crore to Rs 309 crore in the same period. However, the profit before tax was Rs Rs 469 crore in Q3 of 2018-19 compared to Rs 343 crore in the same quarter of previous year.

Total expenses were Rs 1,270 crore compared to Rs 1,069 crore in Q3 of FY18. The earnings per share of Rs 2 moved up to Rs 6.65 from Rs 4.90.

The company informed stock exchanges that the board of directors approved re-appointment of Amit Kalyani as Executive Director for five years from May 11, 2019. He has been involved with driving the group's strategy and execution of its diversification over the past decade.

Bharat Forge is a Pune-based Indian multinational company involved in automotives, power, oil and gas, construction and mining, locomotive, marine and aerospace industries.

It is the world's largest forging company with trans-continental presence across 10 manufacturing locations spread across India, Germany, Sweden, France and North America.