Bharat Forge reports 26% fall in Q2 net profit at Rs 126.89 crore; shares down
Bharat Forge, on Tuesday reported a 26.34 per cent drop in September quarter net profit at Rs 126.89 crore against Rs 172.27 crore reported for the corresponding quarter a year ago. Gross sales slipped 19.95 per cent year-on-year to Rs 917.30 crore from Rs 1,146 crore reported for the same quarter last year.
For the July-September period, profit before tax stood at Rs 187.03 crore compared with Rs 255 crore in the same period a year ago.
Reacting on the financial results, shares of the company slipped as much as 1.87 per cent to Rs 842.20. Earlier, the scrip opened at Rs 869.95 against the previous close of Rs 858.25. The benchmark BSE Sensex was trading 35 points, or 0.13 per cent, down at 27,423.42 at the same time.
