Bharat Forge saw its standalone profit increase 27.8 percent on a year-on-year basis to Rs 311.5 crore in the April to June 2023 quarter from Rs 243.7 crore in the same quarter last year, the firm’s financial results released on August 9 showed.
The firm’s standalone revenue for the quarter under review went up 20.9 percent YoY to Rs 2,127.3 crore compared to Rs 1,759.4 crore in the year ago period.
Bharat Forge, which makes an array of critical and safety components for several sectors including automobiles, registered an earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 548.7 crore for the first quarter of the fiscal. This is 26.1 percent higher than the corresponding quarter last year.
The standalone EBITDA margin of the company rose to 25.8 percent versus 24.7 percent in the year ago period.
Following the Q1 result, Bharat Forge shares were trading four percent higher at Rs 941.90 on BSE at 2:20 pm.
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