Auto components major Bharat Forge today reported a 77.39 per cent jump in net profit at Rs 228.17 crore for the quarter ended on December 31.
Auto components major Bharat Forge today reported a 77.39 per cent jump in net profit at Rs 228.17 crore for the quarter ended on December 31.
The company had posted a net profit of Rs 128.62 crore for the same period in the previous fiscal.
Its revenue from operations stood at Rs 1,390.55 crore.
It was at Rs 990.01 crore in the same period of previous fiscal, Bharat Forge said in a regulatory filing.
Revenue from operations is not comparable due to introduction of GST from July 1, which replaced excise duty and other input taxes, the company said.
Shares of the company were trading 3.38 per cent higher at Rs 730 on the BSE.
Last month, Bharat Forge has opened an R&D facility in Britain for developing components and sub-systems focused on e-vehicles.
The Electric Mobility R&D centre will be able to tap into the extensive testing facilities at the Mira Technology Park as well as the pool of engineering talents in the British Midlands, a release said.
"We are really impressed with the infrastructure and the facilities available in the Mira Technology Park and have set up a research facility focused on R&D for powertrain solutions for electric vehicles," Bharat Forge executive director Amit Kalyani then said.
Technology consulting and digital solutions firm Larsen & Toubro Infotech has deployed its end-to-end power portfolio management solutions for Madhya Pradesh Power Management Company.
Integrated with automated business modules and robust analytical capabilities, this solution enables faster and accurate decision-making on the sale and purchase of power, the company said today.
"This initiative will maximise efficient power portfolio management through a technology-led decision support system," the utility said.
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 "Bharat Forge Q3 net profit jumps 77.39% to Rs 228.17 crore")
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