Bharat Forge, flagship company of $2.5-billion Kalyani Group, has reported a 63.8% increase in net profit of Q4 2011 in comparison to similar period last year. Annual profits grew by 144.5% in FY11.
The company which provides safety and critical components to automative and industrial sectrors made a net profit of Rs 100.4 crore and Rs 310.6 crore in Q4 and FY 2010-11 respectively.
Domestic revenues grew by 50.3% to Rs 1,728 crore in FY11 while exports grew by 72.6% to Rs 1,219 crore in the same period. EBIDTA for full year was 25.5% as against 24.9% last year.
In its press release, the company said the non-automative business has turned to be major driver of its business and has become the single largest business segment for India operations. The company expects non automative business to grow in current fiscal.
