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Bharat Forge Q3 net up 31% at Rs 378 crore

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New Delhi: Auto components major Bharat Forge on Monday said its profit after tax increased by 31 per cent to Rs 378 crore for the third quarter ended on December 31, 2023.

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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.

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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.

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