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Bharat Forge Q3 net drops 79 per cent
Our Bureau
Pune, Jan 14 : Bharat Forge Ltd has registered a 79 per cent drop in net profit, while turnover dropped by 17.33 per cent for the third quarter ending December 31, 2000. Company's total net sales and income from operations this quarter is down to Rs 126.18 crore from Rs 152.64 crore during the third quarter last year. Operating profit is down to Rs 4.02 crore from previous year's Rs 19.41 crore for the same period. Interest and depreciation has gone up on account of commercialisation of the second forging press line on March 27, 2000. Exports are down by 45 per cent during the quarter from Rs 28.12 crore last year same quarter to Rs 15.41 during this year's third quarter. Nine month sales and income from operations stands at Rs 409.86 crore compared to last year's Rs 438.15 crore for the same period. Company's net profit is down from Rs 53.64 to 31.92 crore for the nine month period.Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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