Bharat Forge Q3 results: PAT rises 31% to Rs 378 cr, revenue at Rs 2,263 cr

The company plans to raise Rs 500 cr via term loan, non-convertible debentures or any other debt instruments

Earnings pressure hits auto component companies' share prices

Press Trust of India New Delhi

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Auto components major Bharat Forge on Monday said its profit after tax (PAT) increased by 31 per cent to Rs 378 crore for the third quarter ended on December 31, 2023.
The company had reported a profit after tax (PAT) of Rs 289 crore in the October-December period of last fiscal.
Total revenue rose to Rs 2,263 crore for the period under review as against Rs 1,952 crore in the year-ago period, Bharat Forge said in a regulatory filing.
"Looking ahead in the Q4 & further into FY25, we expect the growth momentum to moderate in both Domestic & Export market across industries," Bharat Forge Chairman & Managing Director BN Kalyani said.
The company's endeavour will be to outperform the market driven by its diversified business mix, he added.
The company said its board has accorded in-principal approval to raise funds not exceeding Rs 500 crore through term loan, non-convertible debentures or any other debt instruments.
Shares of Bharat Forge on Monday declined 14.04 per cent to Rs 1,130.30 apiece on the BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 12 2024 | 5:25 PM IST

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