Bharat Forge Q3 net loss at Rs 210.45 cr Bharat Forge share fell over 3% today after the firm reported a net loss of Rs 210.45 crore in the third quarter ended December 31, 2020. In corresponding period of previous fiscal, the company had posted a consolidated net profit of Rs 40.44 crore.
The large cap stock touched an intraday low of Rs 616.1, falling 3.49%. The stock has lost 4.55% in the last 3 days.
The share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.
The share has gained 28.88% in one year and risen 19.14% since the beginning of this year.
Later, the share closed 2.02% lower at Rs 625.50 on BSE. Revenue from operations stood at Rs 1,723.11 crore as compared to Rs 1,830.86 crore in the year-ago period.
During the quarter, the company said it incurred Rs 5.5 crore expenses for the quarter in standalone results on account of voluntary retirement scheme (VRS) for its employees at Mundhwa and Satara Plant.
On a consolidated basis, during the quarter, it had expenses of Rs 19.71 crore for the quarter on manpower optimisation in overseas subsidiaries.
Commenting on the company''s performance, Bharat Forge Chairman & Managing Director BN Kalyani said the strong recovery in end-market demand across the sector continued into this quarter, enabling the company to register healthy double digit growth in key parameters.
On the outlook, he said, "Looking ahead to into the coming quarter, demand is expected to remain robust across all key geographies and sectors. In the export market, we are witnessing demand recovery across sectors."