Mumbai: Bharat Forge Ltd on Wednesday reported a 70.79% increase in its March quarter net profit due to higher sales and lower finance cost.

Net profit for the quarter was at 203.18 crore as compared with 118.98 crore a year-ago period.

A Bloomberg poll estimated that the company may post a net profit of 210.7 crore, while the net sales will be at 1,252.3 crore.

Net sales for the quarter rose 32.27% from a year ago to 1,195.36 crore.

Finance cost was at 22.42 crore, down 35.67% from a year ago to 34.85 crore.

At 1.34pm, Bharat Forge was trading at 1,252 on BSE, down 2.84% from its previous close, while India’s benchmark index Sensex rose 0.62% to 27,809.25 points.