The Hindu Business Line : Bharat Forge net rises 16% in fourth quarter

Pune May 22 The combined global revenue of Bharat Forge Ltd (BFL) for 2006-07 crossed $1 billion, while the company posted 16 per cent growth in fourth-quarter net profit to Rs 80 crore and maintained EBIDTA margin at 17.2 per cent.

The company has proposed dividend of Rs 3.50 per share or 175 per cent.

The combined fourth-quarter revenue of BFL and its wholly owned subsidiaries was up by 17 per cent to Rs 1,132.4 crore, while the standalone revenue was Rs 538.3 crore, growing 18.9 per cent over the corresponding previous period.

The EBIDTA and PAT for the period were Rs 146.6 crore and Rs 64.3 crore, growing 22.4 per cent and 21.1 per cent respectively.

For the whole year, after extraordinary items, the company's revenue stood at Rs 4,112.5 crore, up 33.3 per cent.

EBIDTA rose by 27.4 per cent to Rs 750.3 crore, while net profit grew by 22.4 per cent to Rs 306.6 crore.

The consolidated fully diluted earnings per share were Rs 13.01 (Rs 10.95).

Mr B.N. Kalyani, Chairman and Managing Director, said: "We have focused on ramping up the forging and machining capacities in India, and driving the operating improvements in our newly acquired China operations."

He added: "In terms of new business, we tied up three large long-term contracts with global OEM customers, including two in the fourth quarter."

These span a range of critical and safety components for automotive and high-end non-automotive applications.

"We also began implementation of our foray into the non-automotive component business, which is an exciting new growth area for BFL."

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