Bharat Forge Q2 net profit falls 18.72 pc to Rs 205.48 cr

Auto components major Bharat Forge on Friday reported 18.72 per cent decline in consolidated net profit at Rs 205.48 crore in the second quarter ended September 30.

The company had posted a consolidated net profit of Rs 252.8 crore in the same period last fiscal, Bharat Forge said in a regulatory filing.

Revenue from operations during the period under review stood at Rs 2,155.2 crore as against Rs 2,597.27 crore in the year-ago quarter, down 17 per cent.

The company said its board of directors, at its meeting held on Friday, has declared an interim dividend of Rs 1.50 per equity share of Rs 2.

Commenting on the performance, Bharat Forge Chairman and Managing Director BN Kalyani said, "The quarter gone by has been the toughest period witnessed by the company in this decade."
On the outlook, he said, "Looking ahead, given the prevailing environment in India and the slowdown in North America and Europe, we expect H2 FY20 to be lower than H1 FY20."