New Delhi, Feb 27: Auto components major Bharat Forge today said it has completed the divestment of balance 26 percent stake in power equipment JV with GE, Alstom Bharat Forge Power Pvt Ltd. With this, the company has completed the divestment of its shareholding in Alstom Bharat Forge Power Pvt Ltd to GE, Bharat Forge said in a regulatory filing.

The consideration received from the disposal was USD 35 million, which was received in March last year, the company said. Bharat Forge shares closed 0.58 per cent up at Rs 772.55 on BSE. The company reported a standalone net profit of Rs 121.42crore in the quarter ended December 31, 2016, GE Power India said in BSE filing today.

The company's total income came down to Rs 410.59 crore in the quarter under review, from Rs 848.08 crore in the same period a year ago. During April-December period the company's loss narrowed to Rs 24.99 crore from Rs 38.75 crore in the same period a year ago. The company's net profit was Rs 29 lakh in the year endedMarch 31, 2017.