Motor Vehicle component manufacturer Bharat Forge Limited’s consolidated net profit for the fourth quarter ended March 31, 2024 increased by 77.8 percent to Rs 227.12 crore. The company’s profit in the fourth quarter (January-March) of the financial year 2022-23 was Rs 127.74 crore. Bharat Forge Limited’s operating income in the quarter under review stood at Rs 4,164.21 crore, compared to Rs 3,629.05 crore in the same period a year ago. Total expenditure in the fourth quarter stood at Rs 3,843.55 crore, compared to Rs 3,469.05 crore in the same period last year.
Dividend of Rs 6.50
The board of directors of the company, in its meeting held on May 8, 2024, has recommended a dividend of Rs 6.50 per share of face value Rs 2 for the financial year ending March 31, 2024. For this, approval of the shareholders will be required in the upcoming annual general meeting. The net profit of the company in the financial year 2023-24 stood at Rs 910.16 crore. Whereas in the financial year 2022-23 it was Rs 508.39 crore. Operating income stood at Rs 15,682.07 crore, up from Rs 12,910.26 crore in 2022-23.
Huge jump in shares
There was a significant rise in the shares of Bharat Forge on Wednesday afternoon. Shares of Bharat Forge closed at Rs 1346.45 on the Bombay Stock Exchange with a rise of 8.53 per cent or Rs 106.25. The 52 week high of this share is Rs 1356.15. Whereas, 52 week low is Rs 753.10. At present the market cap of the company on BSE was Rs 62,707.64 crore. The PE of the stock stands at 49.22 and PB at 7.72. Whereas, ROE is 15.69.
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