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

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