Q3 2022 Bharat Forge Ltd Earnings Call Transcript
Ladies and gentlemen, good day, and welcome to Q3 FY '22 Earnings Conference Call of Bharat Forge. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Amit Kalyani. Thank you, and over to you, sir.
Thank you, and good afternoon, ladies, and gentlemen, and welcome to our quarter 3 analyst conference call. I'd like to welcome all of you and thank you for taking your time. As usual, I have with me our team from sales and business development, finance, Investor Relations.
So give you a brief update and then open up for Q&A. So in quarter 3, the performance was as expected. In the last quarter, we had mentioned that we expect quarter 3 to be slower than quarter 2. And therefore, total sales were flat compared to previous quarter. Exports were about 10% lower, while domestic grew by about 16%. The drop in export revenue was primarily due to the production cuts because of semiconductor-related shortages
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