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De-risking its business and making it less auto-industry dependent has helped standalone forgings maker Bharat Forge Ltd (BFL) post a net profit of Rs 106 crore during second quarter of FY 12, translating into a 56 per cent growth year on year.
Income from sales in the comparable quarters rose 25 per cent to stand at Rs 923 crore (Rs 740 crore).
The company's non-automotive business grew well with revenues increasing 24 per cent Y-o-Y fuelled by ramp up of new facilities and new order wins.During the quarter, BFL's exports grew 57.6 pe cent to Rs 431.6 crore, with those to North America and Europe growing by 25 per cent & 76 per cent respectively. Domestic revenues grew by 7.6 per cent over the same period previous year to Rs 478.4 crore.
The overseas operations registered stable performance in the quarter with top line growing by 23.4 per cent to Rs 649 crore.
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