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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.

Bharat Forge: Weak demand dents performance
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The management said FY21 has started on a difficult note with the lockdown impacting demand. Automotive production across commercial & passenger vehicles globally has been severely impacted.

SI Reporter Mumbai
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

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First Published: Jun 29 2020 | 2:25 PM IST

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