Bharat Forge, a leading auto parts company recently reported a 63.87% jump in their net profits for the last fiscal quarter, amounting to Rs.100.39 crore. During the same period in 2009-10, the company has recorded a Rs.61.26 crore net profit. The company’s total revenue increased to Rs.836.54 crore, a growth of 45.44%, when compared with the Rs.575.14 crore in the fiscal year 2010’s fourth quarter.
Of these profits, the company’s income from their Indian operations grew by more than 30% to Rs.478.32 crore, while income from their overseas operations grew by more than 63% to Rs.358.17 crore. The combined overall income from all of their operations in the year increased to Rs.5,151.76 crore, a growth of more than 52%, in comparision to 2009-10, when it saw a growth of Rs.3,372.41 crore.
The company also said that their non-auto business was their major driver of the company. They are expecting this business to continue on its growth, supported with by their global clients and new orders. Meanwhile, the non-auto segments contribution in the business has witnessed an increase of 37% this year.