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Our Bureau

Mumbai , July 27

BHARAT Forge Ltd today reported a net profit of Rs 34 crore for the quarter ended June 30, 2004, as against the previous corresponding Rs 26.31 crore.

Total net sales/income from operations was Rs 256.79 crore (Rs 186.07 crore for the year ago period). The profit before tax increased to Rs 53.01 crore (Rs 38.15 crore).

The company's domestic revenue (net of excise) moved up to Rs 161.3 crore (Rs 106.4 crore) while its exports rose to Rs 95.4 crore (Rs 79.6 crore), an official statement said.

Though the financial statements of its 100 per cent subsidiary CDP Bharat Forge GmbH, Germany, will be drawn up for a completed financial year only on December 31, 2004 (it will be consolidated into Bharat Forge's financial statements for fiscal year 2005), the company informed that the subsidiary had posted a profit after tax of Rs 5.36 crore on total income of Rs 185.82 crore for the just ended quarter.

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