Financial Daily from THE HINDU group of publications
Tuesday, Jan 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jan 20, 2004 |
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Corporate Results
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Bearings, Castings & Forgings Bharat Forge posts 54 pc rise in net Our Bureau
Pune , Jan.19 DRIVEN by robust domestic and export sales, Bharat Forge Ltd (BFL) has posted an increase in total income by 27 per cent and net income by 55 per cent. According to an offical release, BFL has reported an increase of 54.54 per cent in net profit for the quarter ended December 2003 to touch Rs 33.01 crore as compared to Rs 21.36 crore for the corresponding quarter of the previous year. Total income rose 26.94 per cent to touch Rs 231 crore (Rs 181.99 crore). Exports registered an increase of 13.59 per cent to touch Rs 84.83 crore (Rs 74.68 crore). . EPS (earnings per share) for the quarter ended December 2003 was Rs 8.54 (Rs 5.45). For the nine-month ended December 2003, the company has recorded a total income of Rs 659.47 crores as against Rs 482.08 crore for the corresponding period last year, registering an increase of 36.80 per cent. The profit after tax stood at Rs. 88.67 crore (Rs 51.08 crore), higher by 73.59 per cent. EPS for nine months ended December 2003 was Rs 22.88 (Rs 12.99). Commenting on the expansion plan, Mr B.N. Kalyani, Chairman and Managing Director, BFL said it was enhancing its small forging capacity by setting up two additional 6,000 tonne press line, including one fully automated transfer press line. These additions would more than double BFL's passenger car crankshaft forging capacity to approximately three million per year, he added.
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