India's leading auto component maker, Bharat Forge Limited has reported a rise of over 760 per cent in its net profit to Rs. 37.99 crore (Rs 4.35 crore) for the quarter ended December 31, 2009. BFL's ales have increased at 11 per cent to Rs. 518.43 crore, vis-à-vis Rs. 459.36 crore in the corresponding period last year.
On the back of favourable market conditions in India & signs of demand revival in the export markets, stand-alone revenue & EBIDTA for Q3 reached Rs. 517.0 crore and Rs. 128.3 crore respectively, a sequential growth of 19.2 per cent in revenue & 18.4 per cent in EBITDA. On a YoY basis, standalone revenue & EBITDA increased by 11.4 per cent and 28.6 per cent respectively.
On a sequential basis, domestic revenues grew by 10.5 per cent to Rs. 308.0 crore while export revenues grew by 34.3 per cent to Rs. 199.8 crore. EBITDA margins were maintained around the 25 per cent range in Q3 FY10. PBT before exceptional item grew by 101.3 per cent on a YoY basis to Rs. 60.6 crore while PAT grew by 763.6 per cent to Rs. 38 crore.
On the non-auto front, BFL has started to witness significant traction globally and especially within India and has won several new orders in thermal power, nuclear power, oil & gas and rail sector.
Commenting on the results of the company B.N. Kalyani, chairman & managing director said, "We are starting to see significant improvement in our performance & new order flows in our thrust areas on the non auto front." He added, "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."
On the back of favourable market conditions in India & signs of demand revival in the export markets, stand-alone revenue & EBIDTA for Q3 reached Rs. 517.0 crore and Rs. 128.3 crore respectively, a sequential growth of 19.2 per cent in revenue & 18.4 per cent in EBITDA. On a YoY basis, standalone revenue & EBITDA increased by 11.4 per cent and 28.6 per cent respectively.
On a sequential basis, domestic revenues grew by 10.5 per cent to Rs. 308.0 crore while export revenues grew by 34.3 per cent to Rs. 199.8 crore. EBITDA margins were maintained around the 25 per cent range in Q3 FY10. PBT before exceptional item grew by 101.3 per cent on a YoY basis to Rs. 60.6 crore while PAT grew by 763.6 per cent to Rs. 38 crore.
On the non-auto front, BFL has started to witness significant traction globally and especially within India and has won several new orders in thermal power, nuclear power, oil & gas and rail sector.
Commenting on the results of the company B.N. Kalyani, chairman & managing director said, "We are starting to see significant improvement in our performance & new order flows in our thrust areas on the non auto front." He added, "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."
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