Auto components maker Bharat Forge today reported a 43.43 per cent increase in its standalone net profit at Rs 175.08 crore for the June quarter on account of higher income.
Auto components maker Bharat Forge today reported a 43.43 per cent increase in its standalone net profit at Rs 175.08 crore for the June quarter on account of higher income.The company had posted a net profit of Rs 122.06 crore during the same period of the previous fiscal, Bharat Forge said in a BSE filing. In a separate filing, the company said it has secured a Rs 201.60 crore order from the Defence Ministry to supply 1,050 dual technology detection equipment. The order will be manufactured in India and is to be concluded in two years.
Total income during the quarter under review stood at Rs 1,283.70 crore as against Rs 982.67 crore in the year ago period, up 30.63 per cent. Further, the company said its board has approved the acquisition of the remaining 40 per cent stake in Analogic Controls India Ltd (ACIL), a post which ACIL will become a wholly-owned subsidiary of Bharat Forge. The board of directors has approved the acquisition of remaining 40 per cent stake in its subsidiary company — Analogic Controls India, Bharat Forge said today.The company’s stock was trading 0.76 per cent up at Rs 1,176.75 apiece on BSE.