Bharat Forge Ltd.'s first-quarter profit more than doubled, beating analysts' estimates.
The company's consolidated net profit rose 149.98% year-on-year to Rs 297.6 crore in the quarter ended June, according to an exchange filing. That compares with the Rs 256 crore consensus estimate of analysts tracked by Bloomberg.
Bharat Forge Q1 FY24 Highlights (Consolidated, YoY)
Revenue rose 36% to Rs 3,877.3 crore (Bloomberg estimate: Rs 2,531 crore).
Ebitda rose 39.2% to Rs 595.4 crore (Bloomberg estimate: Rs 504 crore).
Ebitda margin stood at 15.35% versus 15% last year (Bloomberg estimate: 19.9%).
Shares of Bharat Forge were trading 2.24% higher, against a 0.32% fall in the benchmark Nifty 50.
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