The company had reported a net profit of Rs 175.07 crore in the same period of the previous fiscal.
The company said revenue from operations, part of total income, for the quarter ended June 30, 2018 is not comparable with the corresponding period a year ago due to implementation of GST since July 1, 2017.
“As part of our focus on enhancing our presence in the light material space, the board has approved setting up of Aluminum Forging facility in BF PMT in Tennessee, US,” he added.
This facility will be set up at a cost of USD 55 million and will address the needs of the North American car market, Kalyani said.
The plant will commence production in 2020, he added.
On the business outlook, Kalyani said the company expects to see demand sustaining at current elevated levels.
“While demand is extremely strong on the export front across sectors, domestic demand especially on the CV front could be volatile due to the recent regulatory change in axle load norms and the understanding of its impact on end demand,” he added.
Shares of Bharat Forge were trading 1.94 per cent down at Rs 627 on the BSE.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)