Exports power Bharat Forge's Q1 show; defence segment may scale up

On the international front, the company is targeting growth both in the auto and non-auto space

Led by strong export revenues, Bharat Forge reported its seventh consecutive quarter of sequential growth for the June quarter. 

Exports, which, account for 57 per cent of standalone revenues, was up 26 per cent over the year-ago quarter, helping overall revenues grow 23 per cent in the quarter. 

Though domestic revenues were strong, gaining 19 per cent y-o-y, they fell 3 per cent on a sequential basis. The lower growth was largely on account of the industrial segment, which has been pegged back by delays in finalisation of tenders and also saw revenue decline 12 per cent. The auto segment is doing