PUNE, Oct 25: Bharat Forge Limited, the flagship company of the Kalyani group, has registered a 99 per cent rise in its net profit for the first half of the current financial year. The net profit jumped to Rs 34.23 crore from Rs. 17.22 crore in the corresponding period of the previous year. Gross profit also increased by 59 per cent while exports rose by 63 per cent compared to the first half of 1998-99.Bharat Forge's net sales in the first half of 1999-2000 have grown to Rs 286.20 crore from Rs 214.54 crore in 1998-99, showing a rise of 33 per cent. Exports were placed at Rs 56.18 crore in the same period as compared to Rs 34.56 crore in the corresponding period of the previous financial year.
Chairman and managing director of the company Baba Kalyani said that the growth in the domestic demand for medium and heavy commercial vehicles had contributed to the company's performance.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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