1. Bharat Forge sees 15.4% drop in PAT

Bharat Forge sees 15.4% drop in PAT

Bharat Forge (BFL) reported a 15.4% drop in PAT during Q3FY16 to R166.16 crore while operating profit was down 9.5% to R263.25 crore. Total revenues fell by 12.2% to R1,052.02 crore.

By: | Published: February 10, 2016 1:07 AM

Bharat Forge (BFL) reported a 15.4% drop in PAT during Q3FY16 to R166.16 crore while operating profit was down 9.5% to R263.25 crore. Total revenues fell by 12.2% to R1,052.02 crore.

Domestic revenues were down 2% to at R400.40 crore compared to R4,08.60 same period previous year while export revenues at R629 crore saw a 14.2% decline. Despite higher automotive sales, continued weakness in the industrial sector across both, domestic and international markets adversely impacted the overall top-line and the commodity allied sectors continues to witness lower demand on back of weak prices, B N Kalyani, CMD, BFL said.

Tags: Bharat Forge
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