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Bharat Forge Q3 profit up 36 pc at Rs 310 cr

Press Trust of India  |  New Delhi 

Auto component Wednesday reported 35.79 per cent increase in standalone net profit at Rs 309.83 crore for the third quarter ended December 31, 2018.

The company had reported a profit of Rs 228.17 crore in the same quarter last fiscal, said in a regulatory filing.

Total income during the quarter under review stood at Rs 1,740.37 crore as against Rs 1,412.47 crore in the year-ago period, it added.

B N Kalyani said the growth in revenue and profit in the third quarter was on the back of "strong performance across key verticals and all geographies."

"Key highlights during the quarter include quarterly revenues from and the and defence verticals. The company secured new orders worth USD 6.5 million from commercial vehicle (CV) and industrial sectors," he said.

On the outlook, Kalyani said the company expects demand to sustain in the fourth quarter at the current levels.

"The domestic CV sector is witnessing some softness in demand because of de-stocking and we expect it to become normal in the next few months," he said.

The company also said its board has approved reappointment of as Executive for a period of five years with effect from May 11, 2019.

Amit Kalyani is the son of the company's CMD B N Kalyani.

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

First Published: Wed, February 13 2019. 13:40 IST