New Delhi (Anish Yande): Shares of Bharat Forge rose by 7 per cent on Friday’s trading session following the announcement of results in the March quarter of 2021. Bharat Forge shares opened at Rs 698 per share rising to an intraday high of Rs 758 per share from its previous close of Rs 695 per share. The shares of the auto components manufacturer market cap of the company rose to Rs 34,961 crore.
Bharat Forge March quarter results:
Bharat Forge reported a consolidated net loss of Rs 68.59 crore in Q4 FY20. The auto components manufacturer’s consolidated net profit increased to Rs 212.12 crore in the January-March quarter of FY21. For the full year 2020-21, Bharat Forge has reported a consolidated net loss of Rs 126.97 crore as compared with a consolidated net profit of Rs 349.25 crore in the financial year 2019-20.
The consolidated revenue from operations of Bharat Forge was at Rs 1,741.92 crore in the March quarter of FY20. The auto components manufacturer’s revenue from operations rose to Rs 2,082.85 crore in Q4FY21. Consolidated revenue from operations was at Rs 6,336.26 crore for the entire financial year 2021, as compared to Rs 8,055.84 crore in FY20.
Bharat Forge’s earnings before interest, taxation, depreciation and amortization during the quarter ended March 31, 2021, grew to Rs 359 crore as compared to Rs 110.3 crore in the corresponding quarter of the previous year. The EBITDA contracted to 27.5 per cent against 12.5 per cent in the year-ago quarter.
The Chairman and Managing Director BN Kalyani stated that the FY21 has ended on a strong note with a sharp recovery in all segments of the company. The sales segment grew by 26.2 per cent and exports grew by 43 per cent in the March quarter of FY21, according to the company filings.
The board of Bharat Forge has recommended a final dividend of Rs 2 per share of the face value of Rs 2 each for the financial year ended March 31, 2021.
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