Bharat Forge net up 37% to Rs 52 cr

BS 200 SCORECARD

Bharat Forge Ltd (BFL) has posted a net profit of Rs 51.77 crore in the quarter ended September 30, 2005, a 36.84 per cent growth compared with Rs 37.83 crore posted in the previous corresponding quarter.

Net sales in the quarter under review stood at Rs 376.61 crore, a 29.79 per cent growth compared with Rs 290.15 crore. Profit before tax for the quarter under review stood at Rs 78.25 crore, a 29.81 per cent compared with Rs 60.28 crore for the previous corresponding period.

The company achieved consolidated revenue of Rs. 698 crore and net profit of Rs 61 crore for the quarter ended September 30, 2005, an increase of 45 per cent and 31 per cent respectively over the consolidated performance achieved in the corresponding quarter of the previous year.

"The company has been able to achieve these results on the back of strong demand flow resulting out of acceleration in the outsourcing initiatives, matching capacity expansion and good performance by the global subsidiaries," said Baba N Kalyani, chairman and managing director.

BFL has eight manufacturing locations spread across five countries, strong 'dual Shore' supply capability, full service supply capability with Centre of Excellence in Europe and full service testing and validation facility in India.

BFL also has developed extremely strong, technology led, relationships with the top automotive customers worldwide. BFL is the first auto component companies from a low cost country to set up a centre of excellence in Germany.

"This strong positioning of the company will be leveraged to further deepen the engagement with the customers and would translate into a product pipeline and order flow that will ensure strong long term growth of the company," said Kalyani.

BFL closed at Rs 325.50 on the Bombay Stock Exchange today, which is lesser by Rs 1.65 compared with the previous closing of Rs 327.15.