Auto components major Bharat Forge on Monday achieved a nearly threefold jump in its standalone net profit to Rs 299.5 crore for the March quarter.<\/p>\n
The company had reported a standalone net profit of Rs 100.33 crore in the corresponding quarter a year ago, Bharat Forge said in a regulatory filing.<\/p>\n
Its total income stood at Rs 1,718.72 crore as against Rs 1,500.83 crore in the year-ago quarter, it added.<\/p>\n
For the full year 2018-19, the firm’s consolidated net profit was at Rs 1,032.59 crore as compared with Rs 753.97 crore a year ago, a growth of 36.95 percent, it said.<\/p>\n
Total consolidated income for the year was Rs 10,348.52 crore as compared to Rs 8,556.68 crore in the previous fiscal.<\/p>\n
Bharat Forge Chairman and Managing Director B N Kalyani said the financial year 2018-19 has been a record year for the company with strong growth in revenue and profit.<\/p>\n
During the year, the company has secured business wins of $50 million across sectors and geographies. An encouraging trend is the large proportion of wins driven by our work on new product development, he added.<\/p>\n
The company’s board of directors recommended a final dividend of 125 percent at Rs 2.5 per equity share of Rs 2 each for the financial year ended March 2019.<\/p>\n
On the outlook, Kalyani said that after a strong two-year performance, the company is starting to witness demand flatten out in exports.<\/p>\n
The condition is compounded by the lack of momentum in the domestic market across sectors. They expect the situation to improve in the coming months, he added.<\/p>\n
The company will continue to focus on navigating through the challenging demand environment, utilizing a combination of accelerated new product development and cost optimization, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Auto components major Bharat Forge on Monday achieved a nearly threefold jump in its standalone net profit to Rs 299.5 crore for the March quarter. The company had reported a standalone net profit of Rs 100.33 crore in the corresponding quarter a year ago, Bharat Forge said in a regulatory filing. Its total income stood […]<\/p>\n","protected":false},"author":1,"featured_media":5211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[3907,3909,3908],"class_list":["post-5210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-bharat-forge","tag-consolidated-net-profit","tag-q4-results"],"aioseo_notices":[],"yoast_head":"\n