Bharat Forge: Bharat Forge shares rally 4% after Q4 net profit

NEW DELHI: Shares of auto components major Bharat Forge on Friday zoomed almost 8 per cent after the company reported a consolidated net profit of Rs 212.12 crore in the fourth quarter ended March 31 riding. On the BSE, it jumped 7.94 per cent to close at Rs 751.10. During the day, it rallied 8.98 per cent to Rs 758.35 — its 52 week high.

It gained 7.75 per cent to close at Rs 749.85.

In traded volume terms, 8.29 lakh shares were traded at the BSE and over 2.20 crore units at the NSE during the day.

Bharat Forge on Friday reported a consolidated net profit of Rs 212.12 crore in the fourth quarter ended March 31 riding on robust sales.

The company had posted a consolidated net loss of Rs 68.59 crore in the same quarter of the previous financial year,

(BFL) said in a regulatory filing.

Consolidated revenue from operations during the period under review stood at Rs 2,082.85 crore as against Rs 1,741.92 crore in the year-ago quarter.

For the financial year ended March 31, 2021, the company posted a consolidated net loss of Rs 126.97 crore. It had posted a consolidated net profit of Rs 349.25 crore in the previous financial year, BFL added.

Consolidated revenue from operations in 2020-21 stood at Rs 6,336.26 crore as against Rs 8,055.84 crore in 2019-20, the company said.