On Tuesday, Bharat Forge reported an 81.35 per cent decline in consolidated net profit. (file)
New Delhi:
Shares of auto components major Bharat Forge fell over 4 per cent in morning trade on Wednesday after the company reported a decline in profit for the third quarter ended December 31, 2022.
In the late morning session, the company’s stock fell 4.38 per cent to Rs 835.55 on the BSE.
The stock witnessed similar movement on the NSE, where it declined 4.22 per cent to Rs 836.65 per share.
Meanwhile, the 30-share BSE Sensex was trading 37.93 points or 0.06 per cent higher at 61,070.19 in morning trade.
On Tuesday, Bharat Forge Ltd (BFL) reported an 81.35 per cent decline in consolidated net profit to Rs 78.72 crore for the third quarter ended December 2022, hit by higher expenses.
The firm said in a regulatory filing that it had posted a consolidated net profit of Rs 422 crore in the same period last fiscal.
Its consolidated revenue from operations for the quarter under review stood at Rs 3,353.36 crore, as against Rs 2,394.69 crore in the same period last fiscal.
Total expenditure in the October-December period this fiscal was Rs 3,178.9 crore, as against Rs 2,093.39 crore in the year-ago quarter.
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