The Hindu Business Line : Bharat Forge Q3 net up 28 pc at Rs 53.27 cr

BHARAT Forge on Monday announced that its total income for the third quarter of the current fiscal stood at Rs 415.5 crorecompared to Rs 311.25 crore for the corresponding period last year, up 33.5 per cent.

Its net profit stood at Rs 53.27 crore(Rs 41.43 crore), recording an increase of 28.57 per cent. PBT was at Rs 80.2 crore (Rs 65.44 crore)up 22.6 per cent. The consolidated revenue for nine months ended December 2005 stood at Rs 2,304.3 crore compared to Rs 1,457.8 crore for the corresponding period last year.

Commenting on the results, Mr B.N. Kalyani, Chairman & Managing Director, Bharat Forge, in a press release said "Three years ago we had set out with a clear roadmap for achieving global leadership in forged auto component business. Today, we have achieved all the integral parts of the same with global manufacturing presence, world-scale manufacturing capacity across nine plants, more than 35 top OEM & Tier I customers, front-end design & engineering capability & full service supply capability. We have taken steps to cement our relationship with our long-term customers to ensure a major share of business and an opportunity to increase our level of penetration with them.

"The key focus, from now onwards, will be on leveraging these complementarities to our best advantage, progressively scale up the Indian operations in line with the customers' product development protocols and achieve higher level of competitiveness in the operations of our global subsidiaries. The results of the quarter are a step in the direction of achieving these medium-term strategic initiatives,'' he added.

During the quarter, the company entered into joint venture agreement with FAW Corporation of China to manufacture a wide range of highly engineered forged auto components for local Chinese manufacturers and Chinese plants of the global OEMs.

More Stories on : Financial Performance | Automobile Components

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Nepal `tops' in garment exports to India

Exports in December up 16 pc; April-Dec trade deficit widens

Reliance to pick up 25% equity in Yemen refinery

Mills wrangle for sugarcane in UP

Bharat Forge Q3 net up 28 pc at Rs 53.27 cr

TI to use new tech for auto components biz

TCS sees shift towards health, life insurance — `There is more money being invested in IT than in any other branch of technology'

Patni Computer plans campus in Hyderabad

Break if you can

Women are investors only in name!

Retail lending rates may rise: Purwar

TRAI issues paper on tariff plans with lifetime validity

Cos planning IPOs: `SEBI can crosscheck records of RoCs'