Shares of Bharat Forge were climbing on Wednesday after the firm posted strong fourth-quarter numbers.
What Happened: Auto and defence component manufacturer Bharat Forge reported a 59.3% year-on-year rise in net profit for Q4FY24 to ₹389.6 crore compared to ₹244.5 crore a year back.
Total revenue of Bharat Forge for the reporting period jumped 16.6% to ₹2,328.5 crore from ₹1,997.3 crore last year.
EBITDA for the January-March period was at ₹659 crore against ₹522.8 crore in the previous fiscal. The margin for the reporting period also grew to 28.3% against 24.4% in Q4FY23.
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The company has also reported a one-time loss of ₹13.3 crore against a loss of ₹41 crore in the previous fiscal.
“Amid the global disturbance and moderation in truck demand, revenue visibility appears strong for Bharat Forge due to the diversified business mix,” a recent Geojit report said.
Price Action: Ahead of the results, the stock was down amid reports that company chairman Baba Kalyani has rejected the idea of sharing any assets of the Kalyani joint family with the children of his estranged sister, Sugandha Hiremath.
Bharat Forge’s share price was up 13.09% at ₹1,402.30 near the end of trade on Wednesday.
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