Bharat Forge profit rises 28.1%

The revenue of Bharat Forge has increased by 33 per cent to Rs 1,631 crore in 2005-06 as against Rs 1,226.5 crore posted in the corresponding fiscal while its net profit rose 28.1 per cent to Rs 207 crore as against Rs 161.6 crore posted in FY 05.

For the quarter-ended March 2006, the company’s net profit rose by 9.5 per cent to Rs 53 crore as compared to Rs 48.36 crore for the same quarter-ended March 31, 2005 while total income increased by 24.6 per cent to Rs 452.8 crore for the fourth quarter in the financial year 2005-06 from Rs 363.38 crore in the year-ago period.

On a consolidated basis the group posted a consolidated net profit of Rs 250.54 crore against Rs 201.08 crore for FY 05 while consolidated total income stood at Rs 3085.10 crore as against Rs 2001.37 crore in FY 05.

In a move aimed at derisking its business, it is planning to concentrate on its non auto business and is aiming to mop up 25 per cent of its total revenues from this sector by 2008.