Bharat Forge Shares Surge 5% on Strong Q2 Earnings

New Delhi, Nov 6 (PTI) Shares of auto components major Bharat Forge Ltd on Monday climbed nearly 5 per cent after the company reported a 51.78 per cent jump in consolidated net profit in the second quarter ended September 30.

The stock jumped 4.40 per cent to settle at Rs 1,075.95 apiece on the BSE. During the day, it surged 5.14 per cent to Rs 1,083.65.

On the NSE, it climbed 4.72 per cent to Rs 1,079.55 per share.

Bharat Forge Ltd on Monday reported a 51.78 per cent jump in consolidated net profit at Rs 214.87 crore in the second quarter ended September 30, driven by strong performance across verticals and geographies.

The company had posted a consolidated net profit of Rs 141.56 crore in the same quarter last fiscal, Bharat Forge said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 3,774.19 crore, as against Rs 3,076.39 crore in the year-ago period, it added.

Total expenses in the second quarter were higher at Rs 3,488.43 crore, as compared to Rs 2,885.07 crore in the same period a year ago.

During the quarter, the company registered a strong performance across segments and geographies, Bharat Forge Chairman & Managing Director BN Kalyani said.