Bharat Forge net declines marginally to R102.8 cr

Bharat Forge (BFL) has reported a marginal decline of 3.4% in its net profit for Q2 of FY13 to R102.8 crore compared with Rs 106.4 crore in Q2 FY12. The company's operating profit for the quarter reduced by 3.3% to R146.18 crore against Rs 151.22 crore for the same quarter last year.

Company revenues declined by 4.7% in Q2 FY13 to R876.6 crore as compared to R909.99 crore in the same quarter of the previous year mainly driven by a slowing export market and sluggish domestic non-auto. However despite a 13.8% volume drop on a y-o-y basis, Ebitda margins have been sustained at 24% in Q2 FY13 compared with Q2 FY12, partially benefitting from better realisation on exports on account of rupee depreciation. For the half-year ended September, net profit increased by 2% to Rs 207.99 crore against R203.82 crore for the previous year's corresponding period.

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