Bharat Forge reported a 77.8% rise in consolidated net profit to Rs 227.12 crore in Q4 FY24, driven by higher sales. Revenue also grew significantly year-on-year.
Photograph: Kind courtesy Bharat Forge/Twitter
New Delhi, May 8 (PTI) Auto components major 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 profit of Rs 127.74 crore in the corresponding period of the previous fiscal, Bharat Forge 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.
The Board of Directors at its meeting held on May 8, 2024, recommended a final dividend of Rs 6.50 per equity share of the face value of Rs 2 for the financial year ended March 31, 2024, subject to approval of shareholders at the ensuing annual general meeting, Bharat Forge said.
For the fiscal ended March 31, net profit was at Rs 910.16 crore as compared to Rs 508.39 crore in the previous fiscal, it added.
Consolidated revenue from operations in FY24 was at Rs 15,682.07 crore as against Rs 12,910.26 crore in FY23, the filing said.
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