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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (5286)	7/26/1999 9:19:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Bharat Forge net up 123% in Q1 indianauto.com indianauto.com bharatforge.com Our Bureau NEW DELHI, July 26 BHARAT Forge, flagship of the Pune-based Kalyani group, has reported a jump of 26 per cent in its sales turnover, 69 per cent in gross profits and 123 per cent in its net profit for the quarter ended June 30, 1999. While the sales turnover for the quarter stood at Rs. 139.78 crores, the gross profit after interest but before depreciation and tax went up to Rs. 24.10 crores and the net profit to Rs. 16.07 crores. The company's exports increased by 57 per cent during the quarter. According to a company release, the improved performance is the result of several initiatives taken by the company over the past two years at the strategic, financial and operational levels. These initiatives enabled the company to radically restructure its workings. The company is now fully focused on its core business of manufacture of forgings and automobile components. The company has recently undertaken a comprehensive debt restructuring exercise and has also achieved a marked reduction in its interest costs, the release added.