Balu Forge's Q1 2023 net profit doubles to Rs 34.16 crore, driven by 56% revenue growth and 97.31% EBITDA increase.

Balu Forge, a precision engineering firm, reported a two-fold rise in net profit to Rs 34.16 crore for Q1 2023, driven by higher income. The company's revenue from operations increased 56% to Rs 175.3 crore, attributed to increased demand for specialized engineering products, client additions, and larger scale of operations. EBITDA surged by 97.31%, with margins increasing by 516 basis points to 24.64%.