Bharat Forge's Q4 net profit rises 79% to Rs 227 crore

Bharat Forge Q4 results: Bharat Forge Ltd, a key player in the auto components industry, disclosed a strong rise in its consolidated net profit for the fourth quarter ending March 31, 2024. 

The company's net profit soared by 77.8 per cent to reach Rs 227.12 crore, compared to Rs 127.74 crore in the corresponding period last fiscal year. This notable growth can be attributed to increased sales volume during the period.

According to regulatory filings, the company's consolidated revenue from operations for the same quarter stood at Rs 4,164.21 crore, marking a rise from Rs 3,629.05 crore recorded in the year-ago period. However, total expenses during the fourth quarter escalated to Rs 3,843.55 crore, up from Rs 3,469.05 crore in the corresponding period a year ago.

In a recent development, the Board of Directors, in a meeting held on May 8, 2024, proposed a final dividend of Rs 6.50 per equity share with a face value of Rs 2 for the financial year ended March 31, 2024. The recommendation is subject to approval by the shareholders at the upcoming annual general meeting.

For the fiscal year ending March 31, 2024, Bharat Forge reported a net profit of Rs 910.16 crore, a substantial increase from Rs 508.39 crore in the previous fiscal year. Similarly, consolidated revenue from operations for FY24 stood at Rs 15,682.07 crore, up from Rs 12,910.26 crore in FY23, as per the filing.

(With PTI inputs)