Balu Forge Industries Q4 net profit grows 43% to over Rs 15 crore

Balu Forge Industries Limited (BFIL) reported over 43 per cent jump in its consolidated net profit at Rs 15.24 crore in the March 2023 quarter, boosted by higher income.

It had reported a net profit of Rs 10.63 crore in the same quarter a year ago, the company said in a BSE filing on Tuesday.

The total income of the company surged to Rs 12,4.33 crore in the quarter from Rs 87.49 crore in the year-ago period.

Its expenses increased to Rs 107.06 crore in the quarter under review from Rs 74.01 crore registered in the year-ago quarter.

Meanwhile, the board of the company has approved the appointment of Amit Todkari as Chief Financial Officer and Key Managerial Personnel with effect from May 10, 2023.

Mumbai-based BFIL is also in the process of commissioning a precision machining line of Mercedes Benz Truck Factory which was recently acquired from Mannheim, Germany.