Bharat Forge posts net profit of Rs 205 crore in Q4 – ThePrint

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Mumbai (Maharashtra) [India], June 4 (ANI): Engineering and technology conglomerate Bharat Forge on Friday reported a net profit of Rs 205 crore for the quarter ended March as against a net loss of Rs 73 crore in the same period last year.

Revenue from operations in Q4 FY21 jumped to Rs 1,307 crore as compared to Rs 881 crore in Q4 FY20.

The board recommended a final dividend of Rs 2 per share. Final dividend for the financial year ended March 31 will be paid by August 20, the company said in a statement.

“The year has ended on a strong note with sharp recovery visible in all our end markets,” said Baba Kalyani, Chairman and Managing Director.

“Q4 FY21 has witnessed a 26.2 per cent growth in sales on back of 43 per cent growth in exports, which is now witnessing growth in all key segments. Despite cost inflationary pressures, EBITDA percentage has increased by 310 basis points,” he said.

Kalyani said the company is seeing robust demand continue in major segment in the export business. The lockdown in India to curtail the spread of Covid has clearly had an impact on demand and production in the automotive sector.

“We are optimistic that this weakness is temporary in nature and we will witness growth in India as business activities normalise,” he added.

Bharat Forge is a Pune-based Indian multinational company involved in automotives, power, oil and gas, construction and mining, locomotive, marine and aerospace industries.

It is the world’s largest forging company with trans-continental presence across 10 manufacturing locations spread across India, Germany, Sweden, France and North America. (ANI)

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