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Bharat Forge Q3 PAT up 36pct

Auto News - Published on Fri, 15 Feb 2019

Image Source: ET Auto
Auto component major Bharat Forge reported an increase of 35.79 per cent in its standalone profit at at INR 309.83 crore for the third quarter of FY19. The company’s profit stood at INR 228.16 crore in the same quarter last fiscal. The revenue for operations increased 21.71 per cent at INR 1,692.51 crore as against INR 1,390.54 crore in the same period year-ago.

According to Mr BN Kalyani, Chairman and MD, Bharat Forge, the growth in revenue and profit in the third quarter was on the back of "strong performance across key verticals and all geographies." He further said, "Key highlights during the quarter include quarterly revenues from oil and gas verticals and the aerospace and defence verticals. The company secured new orders worth USD 6.5 million from commercial vehicle (CV) and industrial sectors."

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Posted By : Joykumar Irom on Fri, 15 Feb 2019
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