 "Bharat Forge hits 52-week low")
Bharat Forge was fallen to its 52-week low at Rs 716, down 3%, extending its previous day’s 2% fall on the BSE, after reporting a disappointing set of numbers for the quarter ended March 31, 2016 (Q4FY16).
The standalone net profit of the company declined 19% year on year (YoY) at Rs 165 crore in Q4FY16 against Rs 203 crore in Q4FY15. Total revenues fell 18% at Rs 1,008 crore on YoY basis.
Analyst on an average had expected profit of Rs 177 crore on revenues of Rs 1,198 crore.
Despite in the decline in topline, EBITDA margin have held steady at around 30% due to focus on productivity improvement and benefit of benign input cost, Bharat Forge said in a statement.
“Looking ahead into Q1 FY17 we anticipate demand to be lower than Q4 FY16 due to inventory destocking in US truck market & continued weakness of export industrial business,” B.N.Kalyani, chairman & managing director of Bharat Forge said.
The standalone net profit of the company declined 19% year on year (YoY) at Rs 165 crore in Q4FY16 against Rs 203 crore in Q4FY15. Total revenues fell 18% at Rs 1,008 crore on YoY basis.
Analyst on an average had expected profit of Rs 177 crore on revenues of Rs 1,198 crore.
Despite in the decline in topline, EBITDA margin have held steady at around 30% due to focus on productivity improvement and benefit of benign input cost, Bharat Forge said in a statement.
“Looking ahead into Q1 FY17 we anticipate demand to be lower than Q4 FY16 due to inventory destocking in US truck market & continued weakness of export industrial business,” B.N.Kalyani, chairman & managing director of Bharat Forge said.
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