Bharat Forge was up 3.08% to Rs 1,076 at 14:23 IST on BSE after net profit rose 25.32% to Rs 207.50 crore on 10.67% growth in total income to Rs 1205.37 crore in Q4 March 2017 over Q4 March 2016.
The result was announced during market hours today, 24 May 2017.Meanwhile, the S&P BSE Sensex was down 66.53 points or 0.22% at 30,298.72.
On the BSE, 1.68 lakh shares were traded on the counter so far as against the average daily volumes of 87,639 shares in the past one quarter. The stock had hit a high of Rs 1,092.20 and a low of Rs 1,040.20 so far during the day.
The stock had hit a 52-week high of Rs 1,175 on 3 May 2017 and a 52-week low of Rs 686.80 on 24 June 2016. It had underperformed the market over the past one month till 23 May 2017, sliding 3.15% compared with the Sensex's 3.41% rise. The scrip had also underperformed the market over the past one quarter, declining 2.48% as against the Sensex's 5.1% rise.
The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.
Bharat Forge's Chairman & Managing Director B.N. Kalyani said that in Q4 March 2017, the company continued to witness sales growth, strong profitability and reduction of debt. The increase in sales was broad-based across segments and geographies, he said.
Looking ahead into FY 2018, the company expects its performance to be better than the underlying market demand, driven by improvement in North American market across sectors, ramp up of passenger vehicle business and increasing share of business from new sectors, Kalyani stated.
Bharat Forge's board at its meeting held today, 24 May 2017, recommended a final dividend of Rs 5 per share for the year ended March 2017.
Bharat Forge is the flagship company of Kalyani Group. It is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app