Bharat Forge Q2 profit up 60% at Rs204 crore
New Delhi: Auto components major Bharat Forge Wednesday reported a 60.54% jump in its standalone net profit at Rs203.72 crore for the September quarter on account of higher income.
The company had posted a net profit at Rs126.89 crore during the same period of the previous period, Bharat Forge said in a regulatory filing. Total income during the quarter under review stood at Rs1,294.63 crore. It was Rs966.82 crore in the July-September quarter of 2016-17.
The company said revenue from operations for the period is not comparable due to implementation of goods and services tax (GST) from 1 July. Meanwhile, the company’s board has declared an interim dividend of Rs2 per equity share which would be paid before 30 November.
Bharat Forge stock was trading 0.82% up at Rs721.15 apiece on BSE Wednesday.
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