Bharat Forge declines 11% in 3 days after subdued September qtr results

The management said consolidated quarterly weak financials reflect the full impact of Covid-19 lockdown on the company's overseas manufacturing operations in Europe and North America

Shares of Bharat Forge slipped 4 per cent to Rs 478 in the intra-day trade on the BSE on Friday, falling 11 per cent in three trading days, after the company reported subdued September quarter (Q2FY21) results due to weakness in commercial vehicles and Industrial segments, especially in overseas markets. The stock of the auto ancillary company had hit a 52-week high of Rs 539 on November 10, 2020 in intra-day trade.

Bharat Forge reported 87.4 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 27.2 crore in Q2FY21 on account of lower operational income. It had