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Bharat Forge today reported a 773.3 per cent jump in its net profit at Rs 37.99 crore for the third quarter ended December 31, 2009. The company had a net profit of Rs 4.35 crore in the December quarter of FY09, Bharat Forge said in a filing to the Bombay Stock Exchange (BSE). Total income has increased 11.34 per cent to Rs 516.96 crore in the third quarter from Rs 464.28 crore in the corresponding period a year-ago.

Despite a dip in revenues, forging giant Bharat Forge posted a 138.48 per cent jump in standalone net profit to Rs 26.83 crore during the July-September quarter this year. The Pune-based company had reported Rs 11.25 crore standalone net profit during the same period a year back, the company said in a filing to the Bombay Stock Exchange (BSE). The company revenues, on account of the lowered global demands, hit Rs 433.55 crore during the quarter on standalone basis, a drop of 36.78 per cent over Rs 685.78 crore posted during the corresponding period of the last fiscal. The operational income of the company dropped sharply to Rs 328.12 crore during the recently concluded quarter compared to Rs 605.35 crore of expenses reported during the second quarter of the last financial year, the company said. the same, seems to have helped the company improve its profit margins

Bharat Forge Ltd reported a net profit of Rs 61.13 crore for the fourth quarter ended March 31, 2009 as compared with Rs 82.85 crore shown during the same quarter in 2008. Total income for the quarter ended March 31, 2009 has decreased to Rs 306.84 crore from Rs 592.31 crore in the year-ago period. For the year ended March 31, 2009, the company’s net profit decreased to Rs 103.29 crore from Rs 273.59 crore shown during the year 2008. Total revenue has decreased to Rs 2,106.35 crore (Rs 2,258.84 crore). Bharat Forge Ltd has informed the BSE that the Board of Directors of the Company at its meeting held on May 20 has recommended a dividend of Re 1 per share (50%), subject to approval of shareholders.

NTPC, Bharat Forge scaling up equipment manufacturing ties (The Hindu Business Line 12th March 2008)NTPC Ltd and Bharat Forge, which recently got together to manufacture casting, forgings, fittings and high pressure pipings for the power sector, are looking at the possibility of scaling up their partnership for a full-fledged foray into power equipment manufacturing. “The proposed venture is actively exploring opportunities related to power equipment manufacturing in a comprehensive manner, starting with balance-of-plant equipment and then going on to main plant packages and components, including possibly turbines,” a senior Government official involved in the exercise said. The possibility of a strategic partner being roped in at a later date is also being looked at, the official said. NTPC and Bharat Forge had signed a MoU on February 8 to set up a joint venture company with initial equity participation of 49:51 respectively for setting up an equipment manufacturing facility. NTPC al...

The Economic Times (18th Feb 2008) HDFC Bank Research:Indiabulls financials Rating: Buy CMP: Rs 1,564 Target price Rs 1,715 Maharashtra seamless Research:HSBC Rating:Overweight CMP:Rs 371 Target price o Rs 655 Bharat Forge Research:Edelweiss Rating:Accumulate CMP:Rs 390

NTPC has signed MOU with Bharat Forge Ltd (BFL) to promote a Joint Venture Company. NTPC would have equity participation of 49% in th Joint Venture. The joint venture would take up manufacture of castings, forgings, fittings and High Pressure piping required for Power and other industries, Balance of Plant (BOP) equipment for the power sector etc.