FE reported that auto parts maker Bharat Forge posted net profit of INR 37.99 crore for the Q3 ended December 31st 2009. It stood at INR 4.35 crore for the corresponding period last fiscal.
The firm has adopted a new provision for accounting, which is related to effects of the foreign exchange rate during the quarter. Therefore, the results are not comparable with that of the year ago period.
Bharat Forge said in a filing to the Bombay Stock Exchange that Income from operations stood at INR 507.81 crore for the latest quarter, while the same was at INR 453.05 crore for the same period previous fiscal.
Mr BN Kalyani chairman & MD of Bharat Forge said that the performance will further gain momentum going forward with the ramp up in the non auto capacity, revival in the export market and turnaround of our overseas subsidiaries.
For the 9 months ended December 31st 2009, the company reported a net profit of INR 65.78 crore while the same was at INR 42.16 crore for the corresponding period last fiscal.
(Sourced from http://www.steelguru.com/news/index/2010/01/25/MTMwMDEy/Bharat_Forge_Q3_net_profit_at_INR_38_crore.html)
Sunday, January 24, 2010
Bharat Forge Q3 net profit at INR 38 crore
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