Bharat Forge Net Profit Drops 9% To ₹202.8 Cr, Shares Up 4% As EBITDA Jumps 22%
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Bharat Forge announced its Q1 results on August 8 afternoon.

What Happened: Bharat Forge’s consolidated net profit went down almost 9% to ₹202.8 crore in the June quarter. The company’s revenue from operations gained 6% to ₹4106.1 crore. Its EBITDA increased 22.88% year on year to ₹759.2 crore.

Profit was affected by a one-time exceptional loss of ₹151.7 crore, which was booked as a provision for impairment by the company to Kalyani Powetrain Limited, a wholly owned subsidiary of the company.

See Also: Analyst Sees NHPC Shares Going Down Around 32% After Flat Q1

In the corresponding quarter of the previous year, the company reported a net profit of ₹223.4 crore, revenue of ₹3877.2 crore and EBITDA of ₹617.8 crore.

Forgings revenue fell 3.25% from the previous year to ₹3377.9 crore in the quarter, while defence revenue more than doubled to ₹641.7 crore.

Price Action: Shares of Bharat Forge surged 4.41% to ₹1,626.10 on Thursday afternoon after it posted its results.

Read Next: U.S. Court Says It Won’t Stop Byju’s Debt Payment To BCCI, Dismisses Insolvency Case

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesNewsMarketsMoversBharat Forge