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RK Forge bags order from Scandinavian automotive OEM

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Ramkrishna Forgings (RK Forge) said that it has been awarded a business in the driveline segment from a Scandinavian automotive original equipment manufacturer (OEM).

Lalit Khetan, executive director & CFO, Ramkrishna Forgings, said: We are excited about growth opportunities in European market and have built a strong and diversified customer base in this region. This order in Driveline segment from leading Scandinavian automotive OEM is a testimony of our commitment towards increasing presence in European automotive market.

Ramkrishna Forgings is a manufacturer of supplier of open and closed die forgings of carbon and alloy steel, micro alloy steel and stainless-steel forgings.

The company reported a consolidated net profit of Rs 44.06 crore in Q2 FY22 as against a net profit of Rs 1.45 crore in Q2 FY21. Net sales during the quarter increased by 129.7% Y-o-Y (year-on-year) to Rs 578.82 crore.

The scrip fell 1.02% to currently trade at Rs 1188.75 on the BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 25 2021. 11:02 IST