Forging giant Bharat Forge Ltd's has recorded a drop of 3.4 % in its net profit at 102.8 crore as compare to 106.4 crore last year. The company has also witnessed a decline of 4.7% in revenue at 867.6 crore as compare to Rs 910 cr last year.
Bharat Forge has dipped about 3% to Rs 302 on reporting 8% year-on-year (yoy) growth in net profit at Rs 105 crore for the quarter ended June 30, 2012 due to higher interest cost and de-growth in Indian automotive industry.
Forging giant Bharat Forge Limited has registered net profit of Rs 105.21 crore for the first quarter of the current financial year 2012-13, showing a growth of 7.99 per cent from Rs 97.42 crore in the corresponding period last year.
Alstom Bharat Forge Power Limited (ABFPL), a joint-venture between Bharat Forge Ltd and Alstom, has bagged Rs 1,570 crore order from National Thermal Power Corporation (NTPC) Limited for power producer’s upcoming Supercritical thermal power project
Exports provided the necessary push to Bharat Forge’s revenues in the December 2011 quarter, posting 29% year-on-year growth on the back of strong auto demand in both North America and Europe in 2011. Heavy truck sales, while much lower than earlier
As slowdown fears turn real, Baba Kalyani, chairman, Bharat Forge, says it’s critical to have a political consensus on reforms. Industry, too, should gear up to reduce costs and seek new customers, in new markets.
Known for his plainspeak, Baba Kalyani, chairman, Bharat Forge is not just a voice representing Indian manufacturing but that of entire India Inc. As slowdown fears turn real, he says it's critical now to have a political consensus on reforms.
The Association of Indian Forging Industry (AIFI) is demanding transparency in iron ore distribution procedures to create more value addition, according to Baba Kalyani, association former president, and chairman and managing director of the
Bharat Forge reported June quarter results which were ahead of analysts’ expectations, as exports to the US and Europe bounced on strong demand from the commercial vehicle (CV) section in these markets.
Bharat Forge is trading nearly 6% higher at Rs 285.25 on the National Stock Exchange (NSE) after the company reported a 64% year-on-year (y-o-y) rise in standalone net profit for the June 2011 quarter at Rs 97.4 crore.