Bharat Forge Q4 standalone profit slips 19% y-o-y

Bharat Forge stock price slipped by 2.3% during intra-day trading as the company announced a drop in its profit and topline growth. The firm's standalone profit for the fourth quarter ended March 31, 2016 slipped by 19% at Rs 164.5 crore, compared with Rs 203 crore in the same quarter last year.

Revenue for the quarter at Rs 1,030.5 crore degrew by 17% from Rs 1,243.9 crore in the corresponding quarter last fiscal.

The company has posted a net profit of Rs 701 crore for the financial year ended March 31, 2016, compared with Rs 718.98 crore for the year ended March 31, 2015, registering a drop of 2.5%. Total Income has decreased from Rs 4,641.37 crore for the year ended March 31, 2015, to Rs 4,405.28 crore for the year ended March 31, 2016.