Business Daily from THE HINDU group of publications
Wednesday, Jul 25, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Jul 25, 2007 ePaper |
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Corporate Results
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Bearings, Castings & Forgings Bharat Forge Q1 net profit rises 26%
Our Bureau Pune, July 24 Bharat Forge Ltd has posted a 25.8 per cent rise in net profit for the first quarter of the current fiscal at Rs 64.81 crore compared with Rs 51.51 crore for the same quarter last year. Total income stood at Rs 550.21crore (Rs 443.82 crore). On a consolidated basis, Bharat Forge has recorded a net profit of Rs 80.43 crore for the first quarter of the current fiscal as against Rs 73.61 crore for the same period last year. Total income stood at Rs 1,115.29 crore (Rs 1,011.45 crore). Mr Baba N. Kalyani, Chairman and Managing Director, told newspersons that the company would be completing its expansion in Mundhwa for the open die forging unit. The Centre for Advanced Manufacturing coming up at Baramati would be completed by April 2008. The investment in both the units would be about Rs 350 crore and would increase its forging capacity by one lakh tonnes per annum. Currently, the company’s total forging capacity is six lakh tonnes and with this capacity expansion it would touch 7,50,000 tonnes per annum. These facilities cater to the non-automotive segment. He said the company is also setting up a second press facility in China for the automotive segment at an investment of $20 million. It is expected to be operational by December and will have a capacity of 20,000 tonnes per annum. He said the company is also setting up a small unit for power generation equipment which is expected to be completed by June 2008
More Stories on : Bearings | tings & Forgings | Automobile Components
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