Bharat Forge Shares Zoom 16% After Earnings Announcement; Mcap Rallies By ₹7,804.9 Crore

Shares of auto components major Bharat Forge Ltd on Wednesday zoomed 16 per cent after the company reported a 77.8 per cent rise in consolidated net profit in the fourth quarter ended March 31, 2024.

Shares performance

The stock soared 13.54 per cent to Rs 1,408.10 on the BSE. During the day, it climbed 16.63 per cent to Rs 1,446.55 -- its 52-week high.

On the NSE, it zoomed 15.97 per cent to Rs 1,438. The company's market capitalisation (mcap) rallied by Rs 7,804.9 crore to Rs 65,547.20 crore.

Financial Highlights

Bharat Forge Ltd on Wednesday reported a 77.8 per cent rise in consolidated net profit at Rs 227.12 crore in the fourth quarter ended March 31, 2024, riding on higher sales.

The company had posted a consolidated net profit of Rs 127.74 crore in the corresponding period of the previous fiscal, Bharat Forge Ltd (BFL) said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 4,164.21 crore as against Rs 3,629.05 crore in the year-ago period, it added.

Total expenses in the fourth quarter were higher at Rs 3,843.55 crore as compared to Rs 3,469.05 crore in the same period a year ago