Latest News | Bharat Forge Q3 Net Up 31pc at Rs 378 Cr
Get latest articles and stories on Latest News at LatestLY. Auto components major Bharat Forge on Monday said its profit after tax increased by 31 per cent to Rs 378 crore for the third quarter ended on December 31, 2023.
New Delhi, Feb 12 (PTI) Auto components major Bharat Forge on Monday said its profit after tax increased by 31 per cent to Rs 378 crore for the third quarter ended on December 31, 2023.
The company had reported a profit after tax (PAT) of Rs 289 crore in the October-December period of last fiscal.
Total revenue rose to Rs 2,263 crore for the period under review as against Rs 1,952 crore in the year-ago period, Bharat Forge said in a regulatory filing.
"Looking ahead in the Q4 & further into FY25, we expect the growth momentum to moderate in both Domestic & Export market across industries," Bharat Forge Chairman & Managing Director BN Kalyani said.
The company's endeavour will be to outperform the market driven by its diversified business mix, he added.
The company said its board has accorded in-principal approval to raise funds not exceeding Rs 500 crore through term loan, non-convertible debentures or any other debt instruments.
Shares of Bharat Forge on Monday declined 14.04 per cent to Rs 1,130.30 apiece on the BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)