Bharat Forge was up 3.08% to Rs 1,076 at 14:23 IST on BSE after net profit rose 25.32% to Rs 207.50 crore on 10.67% growth in total income to Rs 1205.37 crore in Q4 March 2017 over Q4 March 2016.
The result was announced during market hours today, 24 May 2017.Meanwhile, the S&P BSE Sensex was down 66.53 points or 0.22% at 30,298.72.
On the BSE, 1.68 lakh shares were traded on the counter so far as against the average daily volumes of 87,639 shares in the past one quarter. The stock had hit a high of Rs 1,092.20 and a low of Rs 1,040.20 so far during the day.
The stock had hit a 52-week high of Rs 1,175 on 3 May 2017 and a 52-week low of Rs 686.80 on 24 June 2016. It had underperformed the market over the past one month till 23 May 2017, sliding 3.15% compared with the Sensex's 3.41% rise. The scrip had also underperformed the market over the past one quarter, declining 2.48% as against the Sensex's 5.1% rise.
The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.
Bharat Forge's Chairman & Managing Director B.N. Kalyani said that in Q4 March 2017, the company continued to witness sales growth, strong profitability and reduction of debt. The increase in sales was broad-based across segments and geographies, he said.
Looking ahead into FY 2018, the company expects its performance to be better than the underlying market demand, driven by improvement in North American market across sectors, ramp up of passenger vehicle business and increasing share of business from new sectors, Kalyani stated.
Bharat Forge's board at its meeting held today, 24 May 2017, recommended a final dividend of Rs 5 per share for the year ended March 2017.
Bharat Forge is the flagship company of Kalyani Group. It is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.
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