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Bharat Forge hits record high on strong Q3 results

The stock hit an all-time high of Rs 764, up 8% on BSE after the company reported a strong 77% growth in its standalone net profit at Rs 2.3 billion for the quarter ended December 2017

SI Reporter  |  Mumbai 

Bharat forge

hit an all-time high of Rs 764, up 8% on BSE after the company reported a strong 77% growth in its standalone net profit at Rs 2.3 billion for the quarter ending December 2017 (Q3FY18), on back of healthy revenue growth. Total revenue during the quarter grew 47% at Rs 13.90 billion over the previous year quarter.

EBITDA (earnings before interest, tax, depreciation and amortization) margins improved 80 bps to 29.6% from 28.8% in year ago quarter driven by better product mix and enhanced productivity.

The company said demand in Q4 (January-March) is expected to be stronger compared to driven by continued growth in domestic commercial vehicle cyle

has announced strategic investment of up to Rs 300 million for eventual stake of 45% in an (EV) startup,

This strategic investment will enable to develop components and sub systems to address the huge potential in the Indian personal mobility space driven by rising economic variability of EVs, it added.


First Published: Thu, February 08 2018. 15:24 IST
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