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Pune, Oct. 27

Bharat Forge Ltd today announced combined second quarter revenue of Rs 1,071.2 crore and profit after tax of Rs 79.1 crore, a growth of 8 per cent and 6 per cent, respectively over the corresponding period previous year. The combined EBITDA margins improved to 19 per cent from 18.2 per cent. On a standalone basis, the revenue was Rs 588 crore, up by 25 per cent,while PAT stood at Rs 67.7 crore, up by 9 per cent. The company’s combined PBT has grown 10 per cent to tou ch Rs 101 crore on the back of strong exports. Exports recorded a growth of 42 per cent on a y-o-y basis, despite continued softness in the US medium and heavy commercial vehicle industry, and a strong rupee. Mr Baba N. Kalyani, Chairman and Managing Director, said: “Our improved performance has come on the back of strong demand from Europe and the Asia Pacific, and successful ramp up in production of heavy duty engine parts and passenger car engine components for the US and European markets. The hit on EBITDA margins in Q1 has been recouped to a substantial extent and will show further improvement in the coming quarters.” —

Our Bureau

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