The shares of Bharat Forge surged over 16 per cent to 1,438 per share to 52-week high on Wednesday’s trading session on National Stock Exchange (NSE) after the company reported a 78 per cent year-on-year (YoY) increase in its consolidated net profit, which amounted to 227 crore for the quarter ending March 31, 2024, compared to 127.74 crore reported in the corresponding period of the previous year.

The board of directors of Bharat Forge has proposed a final dividend of 6.50 per equity share for the fiscal year ending March 31, 2024. This final dividend is scheduled to be disbursed on or after August 14, 2024.

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Over the entire financial year, the profit after tax (PAT) surged to 910 crore, marking a significant 79 per cent increase from the 508 crore reported in the corresponding period of the previous year.

The consolidated revenue from operations amounted to 4,164 crore, marking a 15% year-on-year increase compared to 3,629 crore recorded in the corresponding period of the previous year. In FY24, the revenue stood at 15,682 crore, as opposed to 12,910 crore in FY23, representing a substantial 21 per cent year-on-year surge.

Compared to the 254 crore reported in Q3FY24, the consolidated Profit After Tax (PAT) witnessed a nearly 11 per cent decrease on a sequential basis. Conversely, there was an 8 per cent quarter-on-quarter (QoQ) increase in revenue figures. During the October-December quarter, the company generated revenue amounting to 3,866 crore.

The company’s expenditures surged to 3,843 crore in the fourth quarter of the financial year 2023-24, compared to 3,529 crore in the third quarter of FY24 and 3,469 crore in the fourth quarter of FY23.

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According to the company’s filing, it concluded the year on a high note, with standalone revenue growing by 16.6 per cent to 2,329 crore. Additionally, standalone EBITDA surged by 25 per cent to 654 crore, leading to EBITDA margins of 28 per cent in Q4 FY24.

Throughout the entire year, the revenue increased by 18 per cent to reach 8,969 crore, while EBITDA saw a growth of 28 per cent, reaching 2,469 crore.


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Published: 08 May 2024, 03:28 PM IST