Bharat Forge, Automotive component maker achieves 118% hike in profit

The famous automobile component manufacturer, Bharat Forge on the back of accelerating automobile world has marked a successful hike of 118 per cent in profits for the third quarter. The Indian Auto market was on its highest swing last year which resulted in huge investment of auto manufacturers from all around the globe in India. The increased rate of launches resulted in higher demand of auto parts.

And it is from there that this Pune based auto part maker, Bharat Forge marked a tremendous hike of 118 percent for the December quarter. The total exports by the company amounted to Rs 359 crore. The reports suggest that the export figures include the combined data across all segments and geographies. This is the period when the US and Europe automotive segments marked a below than average performance.

As per the reports, the total profit marked by this Pune based company in its third quarter was Rs. 83 crore which was just Rs 38 crore in the same quarter of previous year. Coming to the revenues, the company has flaunted a figure of Rs 790 crore which is is a hike of straight 55.81 per cent from that of last year's Rs 507 crore.

Addressing the proud occasion, Mr. B N Kalyani who is the Chairman and Managing Director of the company commented that the spectacular performance of the company in this quarter is a combined result from both domestic and international market. He also said that on the recovery of North American and European automotive markets, the company will be able to reach better performance in coming times. The company is working on many efficient strategies in order to improve the profits and performance.

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