Bharat Forge Q4 results: Net profit falls 7% to Rs 245 cr; firm declares Rs 5.5 dividend

Auto component and construction company Bharat Forge Ltd on Friday reported a fall of 7 per cent in standalone net profit at Rs 245 crore for the quarter ending March 31, 2023. It reported standalone net profit of Rs 262 crore in the year-ago period.

The company's Board has announced a final dividend of Rs 5.5 (275 per cent on the face value of Rs 2 per share) for FY3. The company, in a stock exchange filing, also said that dividend is subject to approval of the Members of the Company at the ensuing Annual General Meeting. The final dividend for the year ended March 31, 2023, if approved by members, will be paid on or after August 18, 2023.

Bharat Forge’s standalone revenue from core operations rose 19.3 per cent to Rs 1,997 crore for the fourth quarter ended March 2023 as compared to Rs 1,674 crore a year ago. Other income of the company fell to Rs 39 crore as against Rs 66.1 crore, a year ago.

On the other hand, expenses of the company have climbed to Rs 1,680 crore as compared to Rs 1,388 crore a year ago.

After the results announcement, Bharat Forge's scrip on BSE closed Friday trading session with a fall of 1.26% at Rs 765.30.