Bharat Forge Q1 PAT slips 49%
Automobile-component maker Bharat Forge posted a 49 per cent drop in profit during the first quarter of 2008 due to losses in foreign currency bonds. Net profit declined to Rs 40.91 crore in the three months ended June 30, 2008 from Rs 80.43 crore a year earlier, the Pune-based company said. Revenues rose by 22 per cent to Rs 1,320 crore.
The company recorded a loss of Rs 69.34 crore on foreign currency assets and loans due to the fluctuation in exchange rates, it said.
Adlabs Films profit at Rs 2.32 cr
Adlabs Films has posted a net profit of Rs 2.32 crore in the first quarter ended June 30,2008, as against Rs 21.17 crore in corresponding quarter last year. Total income during the quarter increased to Rs 253.5 crore from Rs 80 crore posted in the quarter ended June 30, 2007.
The company said that the results of the first quarter ended June 30, 2008 are not comparble to the comparative quarter and previous period ended March 31, 2008.
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