Bharat Forge net at Rs 61 cr

Pune-based Bharat Forge, the second-largest forging company in the world, today reported a consolidated net profit of Rs 60.6 crore for the quarter ended September.

The company had reported a consolidated loss of Rs 40.7 crore in the same quarter a year ago, said a company release.

Total income on a consolidated basis for the reporting period grew 56 per cent to Rs 1,111 crore, as compared to Rs 710 crore during the year-ago period.

On a standalone basis, the company posted a 154 per cent increase in net profit at Rs 68.14 crore for the quarter, as compared to Rs 26.83 crore a year ago. Net sales increased 67 per cent year-on-year to Rs 700 crore during the quarter.