Pune-based auto component-maker Bharat Forge today reported a 64% growth in its profit after tax (PAT) to Rs 97.4 crore on standalone basis for the quarter ended June 30, mainly on strong overseas demand.
The PAT for the April-June 2010 period stood at Rs 59.43 crore, the company said in a release issued here.
The total income grew by 36.3% to Rs 1,583.2 crore for the period under review, it added.
"This quarter results show strong all round performance across geographies and industries and it clearly accentuate the benefits derived from the de-risked business model we have put in place," company Chairman and Managing Director B N Kalyani said.
The non automotive business has grown by more than 50% compared to last year and it continues to witness tremendous traction with good order flow, he said, adding that it has brought about a distinct change in the customer base with many marquee names been added in the past few years.
The exports continued to impress with strong growth of 67.1% to Rs 381.1 crore over the same period previous year.
Meanwhile, the domestic revenues of the company, which has operations in Europe, China and the US, grew by 18.6% over the same period previous year to Rs 476.6 crore.
