Bharat Forge Q4 net up 28.9% at Rs 82.85 cr

New Delhi, May 20 (UNI) Bharat Forge Ltd, the world's second largest forging company, today said its net profit for the quarter ended March 2008 increased 28.9 per cent to Rs 82.85 crore as compared to Rs 64.28 crore for the corresponding quarter last year.

The company said in a statement that its total income for Q4FY08 jumped 7.18 per cent to Rs 576.50 crore as against Rs 537.87 crore Q4FY07.

Bharat Forge's net profit for the year ended March 2008 stood at Rs 273.58 crore, whereas it was Rs 240.95 crore for the year ended March 2007, an increase of 13.54 per cent.

Its FY08 total income witnessed a hike of 17.45 per cent to Rs 2,284.90 crore from Rs 1,945.29 crore for FY07.

The Group's net profit for the year ended March 2008 increased 3.76 per cent to Rs 301.52 crore as compared to Rs 290.58 crore for the year ended March 2007.

Its FY08 total income jumped 11.14 per cent to Rs 4,751.57 crore from Rs 4,275.21 crore last fiscal.

The company has recommended a dividend of Rs 3.50 per equity share, that is 175 per cent, subject to approval of shareholders, the statement added.

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