Mumbai: Bharat Forge Ltd (BFL) has posted a jump of 354 per cent in its profit before tax (PBT) at Rs 182.9 million, while its exports has gone up by 120 per cent to Rs 444.5 million during the first quarter ended June 2002.

According to the companys unaudited results for the quarter approved by the board of directors on 20 July 2002, total sales grossed Rs 1,433.6 million, indicating an impressive growth of 27 per cent over the corresponding quarter of the previous year.

The expenditure increased by only 18 per cent to Rs 1,041.7 million, which demonstrates the companys cost efficiency. The EBIDTA (operating profit before interest, depreciation, extraordinary items and tax) margin went up by 414 basis points to 27.4 per cent during the period. The interest cost came down by 13 per cent to Rs 108.4 million. The net profit zoomed by 207 per cent at Rs 123.7 million (compared to PBT of FY02 QI).

Says BFL chairman and managing director Baba N Kalyani: Our three-pronged strategy for growth in topline (namely exports), entry into new industries and acquisitions have been the key driving factors to BFLs growth. Our endeavour of increasing operational and financial efficiency has resulted in significant growth in operating margins in the current quarter. By using technology to enable improved manufacturing processes, BFL has achieved a significant reduction in time to market, giving us the competitive edge.

The company has continued to de-risk its business model by enhancing its product profile and spread into new market segments like oil and gas and construction equipment manufacturing as well as new geographies.

Established in 1961, BFL today is a globally competitive organisation with world-class engineering capabilities and state-of-the-art manufacturing facilities. It has the worlds largest single location forging facility. BFL is internationally reputed for its cutting-edge technology, established quality processes, and capabilities developed over the years.