Bharat Forge Q3 down 15% at Rs 166 crore

Auto component maker Bharat Forge has reported a decline of 15.37% in standalone net profit to Rs 166.16 crore for the third quarter ended December 31.

The firm had posted a profit of Rs 196.34 crore in the same period last fiscal, Bharat Forge said in a BSE filing.

Net sales during the period under review stood at Rs 1,029.35 crore compared with Rs 1,142.09 crore in the year-ago period, down 9.87%, it added.

Domestic sales were marginally up at Rs 449.68 crore as against Rs 447.04 crore in the same period in the previous fiscal, the company added.

Exports were down at Rs 628.95 crore as against Rs 733.47 crore in the year-ago quarter, it said.

Meanwhile, in a separate filing Bharat Forge informed that its board in a meeting held has declared an interim dividend of Rs 3/- per equity share of Rs 2/- each.

Shares of Bharat Forge were trading at Rs 801.70, up 4.155 on BSE in late afternoon trade.