Despite a dip in revenues, forging giant Bharat Forge posted a 138.48 per cent jump in standalone net profit to Rs 26.83 crore during the July-September quarter this year. The Pune-based company had reported Rs 11.25 crore standalone net profit during the same period a year back, the company said in a filing to the Bombay Stock Exchange (BSE).
The company revenues, on account of the lowered global demands, hit Rs 433.55 crore during the quarter on standalone basis, a drop of 36.78 per cent over Rs 685.78 crore posted during the corresponding period of the last fiscal.
The operational income of the company dropped sharply to Rs 328.12 crore during the recently concluded quarter compared to Rs 605.35 crore of expenses reported during the second quarter of the last financial year, the company said. the same, seems to have helped the company improve its profit margins
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