Bharat Forge shares drop nearly 4 pc after Q3 results

Shares of auto components major Bharat Forge on Monday fell nearly 4 per cent after the firm reported a 81.37 per cent decline in consolidated net profit for the third quarter ended December 31, 2019. Bharat Forge's scrip went lower 3.59 per cent to close at Rs 499.55 on the BSE. During the day, it dropped 6.69 per cent to Rs 483.45.

On the NSE, it dipped 3.65 per cent to close at Rs 499.05. Bharat Forge on Monday reported a 81.37 per cent decline in its consolidated net profit at Rs 40.44 crore for the third quarter ended December 31, 2019.

The company had posted a consolidated net profit of Rs 216.96 crore in the same period last fiscal, Bharat Forge said in a regulatory filing. Total income during the period under review stood at Rs 1,868.05 crore as against Rs 2,516.7 crore in the year-ago quarter, it added.

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