Bharat Forge Q4 net up 10% to Rs 53 cr

Bharat Forge has reported 9.59 per cent growth in net profit at Rs 53 crore in the quarter ended March 2006 compared with the year-ago period's Rs 48.36 crore.

The company reported net sales of Rs 438.41 crore, a growth of 21.25 per cent compared with net sales of Rs 361.26 crore reported in the previous corresponding period.

The company has reported 24.2 per cent growth in exports at Rs 191.8 crore compared with Rs 154.4 crore reported in the previous corresponding period.

"Bharat Forge has put in place the building blocks of manufacturing capability, technology, global presence, organisation and customer relationship. Our goal over the next few years will be to leverage these assets in order to propel our company at a higher growth trajectory by working closely with our customers," said B N Kalyani, chairman & MD.

Operating profit for the quarter grew by 31 per cent at Rs 119.6 crore compared with Rs 91.3 crore reported in the previous period.

For the year ended March 31, 2006, Bharat Forge has reported a net profit of Rs 206.96 crore, a growth of 28.04 per cent compared with Rs 161.63 crore reported in the previous year. Net sales has increased to Rs 1577.93 crore for the year, a 29.44 per cent growth compared with Rs 1,219 crore, the previous year.

Exports revenue for the year ended March 31, 2006, reached Rs 655 crore on account of strong demand from the US market.

The US contributed to 49 per cent of the overall exports followed by Europe at 32 per cent. The Asia pacific (including China) contributed to 19 per cent of the exports.