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Bharat Forge net profit up by 46 percent for 2014-15

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Kolkata: Bharat Forge Ltd on Wednesday said cost efficiency and productivity improvement helped it score a net consolidated profit of Rs.763.59 crore for 2014-15 – a rise of 46 percent against Rs.525.07 crore in 2013-14.

While net consolidated revenues posted a strong growth of 13.53 percent at Rs.7,624.75 crore for the period under review compared to Rs.6,715.84 crore in 2013-14, the company strengthened its core forgings business which rose by 18.81 percent.

“Operational performance during the year was excellent, driven by productivity improvement, cost efficiency and sweating of assets. Financial parameters improved across the board and this coupled with strong free cash generations resulted in net debt reduction,” said company’s chairman and managing director, B.N. Kalyani.

According to him, on the business front, strong market share gain in the North American truck market, new customer additions in US and Europe, coupled with the entry into the premium aerospace segment with four marquee customer contracts capped off a strong year for the company.

Its net revenue for 2014-15 from Indian operations rose by 3.17 percent at Rs.2,420.35 crore against Rs.2,346.07 crore during the previous fiscal. The contribution to net revenue from clients based out of India accounted for Rs.5,204.40 crore – a rise of 19.1 percent compared to Rs.4,369.77 crore in 2013-14.

During the fiscal, one of its subsidiaries, Kalyani Alstom Power Ltd was amalgamated with Alstom Bharat Forge Ltd, resulting in a Rs.9.15 crore profit reflected in the consolidated results for the period under review.

In a statement, the company said in 2014-15, the domestic automotive market grew for the first time in three years as total production increased by 3.4 percent as compared to 2013-14.

It said total medium and heavy commercial vehicles volumes during 2014-15 stood at 268,553 – a 21 percent increase in volumes as compared to 2013-14.

During 2015’s first three months, the company’s net profit climbed steeply by 70.77 percent at Rs.203.18 crore against Rs.118.98 crore in the year-ago period.

In this timeframe, net revenues also increased substantially by 31.53 percent at Rs.1,223.89 crore against Rs.930.52 crore during January-March 2014.

“As we enter into the fiscal year 2016, we are witnessing growth in both commercial and passenger vehicle segment across our key markets. However, industrial sectors are witnessing mixed fortunes due to the sudden slowdown in oil and gas markets and resultant impact on other industrial sectors. Mining continues to be sluggish as well,” Kalyani said.

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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