Bharat Forge Faces Profit Dip in Q3 as Revenue Falls

Bharat Forge Ltd reported a 16.38% decline in net profit to Rs 212.78 crore for Q3 ending December 31, 2024, due to decreased revenue. Revenue fell to Rs 3,475.55 crore from Rs 3,866.4 crore year-on-year. The board declared an interim dividend of Rs 2.5 per equity share.

Bharat Forge Ltd, a leading player in the auto components industry, announced a 16.38% drop in its consolidated net profit for the third quarter ending December 31, 2024. The company reported a profit of Rs 212.78 crore, a significant decrease compared to the Rs 254.45 crore recorded during the same period last year.

This decline in profits has been attributed to a reduction in revenue, which stood at Rs 3,475.55 crore for the quarter under review. This marks a decline from the Rs 3,866.4 crore earned in the corresponding quarter of the previous fiscal year.

Despite the downturn, Bharat Forge's board has declared an interim dividend of Rs 2.5 per equity share, maintaining a rate of 125% on shares with a face value of Rs 2 each. The company also managed to lower its total expenses to Rs 3,165.37 crore, compared to Rs 3,529 crore in the same quarter last year.