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Bharat Forge Ltd (BFL) has posted a net profit of ₹195.32 crore for the first quarter ended June 30, 2015, compared with ₹144.97 crore in the same period of last year, registering a growth of 34.7 per cent year-on-year.
Total income from operations for the Pune-based forgings giant stood at ₹1128.5 crore against ₹988.13 crore, respectively, in the two quarters being compared, showing a rise of 14.2 per cent year-on-year.
This was mainly driven by a growth of 20.9 per cent in export revenues on account of underlying market growth and increased market share, BFL said.
In comparison to Q1 2015, the shipment tonnage in q1 2016 was up 5.8 per cent. While revenues from export stood at ₹667 crore (₹552 crore), domestic revenue grew by 5.8 per cent over last year to ₹436.5 crore (₹412.5 crore).
The company’s EBITDA margins stood at 31.8 per cent, expanding by 240 bps over the same quarter of the last fiscal.
In a statement, Baba Kalyani, CMD, said: “Looking ahead into Q2 (16), we anticipate demand to be higher than Q2 15 with positive automotive demand.”
The challenging demand environment in the industrial sector was expected to continue for some more time as global economies adjust to the lower commodity prices, he added.
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