Bharat Forge reported a consolidated profit after tax of Rs 271 crore in Q2 FY22 as compared to a net loss of Rs 1.8 crore posted in Q2 FY21.
Revenue from operations grew by 73.4% year on year to Rs 2385.6 crore in Q2 FY22 from Rs 1376.1 crore posted in Q2 FY21. Consolidated profit before tax grew 14.4% quarter on quarter and 880% year on year to Rs 318.7 crore in Q2 FY22 over Q2 FY21.EBITDA increased 188% to Rs 476.7 crore in Q2 FY22 over Q2 FY21. EBITDA margin improved to 20% in Q2 FY22 from 12% in Q2 FY21.
B.N. Kalyani, chairman & MD of the company said, "During Q2 FY22, demand continued to remain robust across most of our end markets. Looking ahead into Q3 FY22, end demand continues to remain robust across segments, but to what extent the semiconductor and other supply chain issues will weigh in on OEM's ability to produce is uncertain. Sequentially, We expect the company's ~75% exposure to the domestic markets & export industrial segment will continue to do well while the performance of the export automotive business will in all probability witness a decline.
The company's long term debt stood at Rs 1962.1 crore as of 30 September 2021 compared with Rs 2064.3crore on 31 March 2021.
Bharat Forge is a multinational company involved in automotives, power, oil & gas, construction & mining, locomotive, marine, defense and aerospace industries.
Shares of Bharat Forge ended 1% lower at Rs 774.70 on BSE today.
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