Bharat Forge Q1 net up 60% at Rs 145 cr

Tags: Companies
Auto components firm Bharat Forge today reported 60.01 per cent jump in standalone net profit at Rs 144.97 crore for its first quarter ended June 30, 2014-15, on the back of higher sales.

The company's net profit stood at Rs 90.60 crore in the same quarter of the previous fiscal, Bharat Forge said in a filing to the BSE.

Total net sales of the company in Q1, 2014-15 stood at Rs 964.33 crore, up 24.96 per cent compared to Rs 771.65 crore during the same period 2013-14.

Bharat Forge CMD B N Kalyani said: "Sales improvement coupled with favourable product mix resulted in improvement in EBITDA (earnings before interest, taxes, depreciation and amortisation) and robust cash flow."

He said the company will continue to develop newer products for global markets and focus on improving product performance.

"Looking ahead in Q2, we expect demand to improve across all segments with volumes increasing, except domestic market where improvement may take some time," he added.

During Q1, overall expenses were at Rs 770.58 crore as against Rs 656.53 crore in the year-ago period.

The Bharat Forge scrip was trading at Rs 719.75, up 1.32 per cent from its previous close on the BSE.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Amidst Sino-Indian bonhomie, the Tibet issue cannot be wished away

    Tibet did not figure in the three-day high-level meetings between India and the People’s Republic of China (PRC).

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: Intertemporal choices

Intertemporal choice is the study of the relative value people ...

Parvez Imam

Why we all have blood on our hands

What does the Jammu and Kashmir flood make us think? ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture