Bharat Forge shares slip 10% on weak March quarter earnings

The company reported a consolidated net loss of Rs 68.59 crore in Q4FY20 against a profit of Rs 324 crore in Q4FY19.

Shares of Bharat Forge slipped 10 per cent to Rs 317 in the intra-day trade on the BSE on Monday after the company reported a consolidated net loss of Rs 68.59 crore for the quarter ended March 2020 (Q4FY20), due to lower sales and one-time exceptional loss. The company had posted a net profit of Rs 324 crore in year-ago quarter.

Consolidated revenue from operations declined 34.8 per cent year-on-year (YoY) at Rs 1,742 crore against Rs 2,671 crore in the previous year quarter.

On the heels of robust growth over the past 3 years, a routine cyclical correction in commercial vehicle