Bharat Forge Q3 net at Rs 90 crores; stock down

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Bharat Forge has reported a net profit of Rs 90 crores for Q1 2013, as against Rs 96.4 crores reported in the previous quarter.

Total revenues stood at Rs 832 crores, as against Rs 845 crores in the previous quarter.

"BFL continues to do well despite the domestic slowdown because of a diversified product mix and strategic entry into the non-automotive sectors in 2008. We continue to win news orders across auto and non auto segments," B L Kalyani, Chairman and Managing Director of the company said in a release.

"Looking ahead, we expect demand to see demand levels across all geographies stabilising with an upward bias. Overall demand is expected to be moderately better in Q4 2014 driven by exports and early signs of recovery in India," he further added.

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