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Our Bureau

Pune, Jan. 20

Bharat Forge Ltd has announced strong third quarter results with a combined PAT at Rs 77 crore, witnessing 23 per cent growth over the corresponding period last fiscal. The combined revenue reached Rs 1,037.1 crore while the combined EBIDTA margin grew to 18 per cent from 16.1 per cent. The company's stand-alone revenues and PAT stood at Rs 493.3 crore and Rs 63 crore, showing a respective growth of 18.7 per cent and 18.2 per cent, respectively. Exports grew 23.2 per cent to touch Rs 195.8 crore. According to a statement released here on Saturday, the company has concluded a long-term contract with a global OEM for the supply of a range of parts in the automotive sector. Commenting on the results, the Chairman and Managing

Director, Mr B.N. Kalyani, said, "We have, over the past several years, consciously developed a global business model. We have seen our key customer relationships graduating from being "supply partnerships'' to "engineering based development partnerships''.''

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