Bharat Forge reported a 31% increase in Q3 profit to Rs 378 crore, driven by revenue growth. The company expects growth momentum to moderate in Q4 and FY25.
Photograph: Kind courtesy Bharat Forge/Twitter
New Delhi, Feb 12 (PTI) Auto components major Bharat Forge on Monday said its profit after tax increased by 31 per cent to Rs 378 crore for the third quarter ended on December 31, 2023.
The company had reported a profit after tax (PAT) of Rs 289 crore in the October-December period of last fiscal.
Total revenue rose to Rs 2,263 crore for the period under review as against Rs 1,952 crore in the year-ago period, Bharat Forge said in a regulatory filing.
"Looking ahead in the Q4 & further into FY25, we expect the growth momentum to moderate in both Domestic & Export market across industries," Bharat Forge Chairman & Managing Director BN Kalyani said.
The company's endeavour will be to outperform the market driven by its diversified business mix, he added.
The company said its board has accorded in-principal approval to raise funds not exceeding Rs 500 crore through term loan, non-convertible debentures or any other debt instruments.
Shares of Bharat Forge on Monday declined 14.04 per cent to Rs 1,130.30 apiece on the BSE.
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