Published on 13/08/2019 12:21:54 PM | Source: Dion Global Solutions Ltd

Bharat Forge Q1 net profit down 25.73% at Rs 174.13 cr

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The company reported standalone net profit of Rs 174.13 crore for the quarter ended June 30, 2019 as compared to Rs 234.46 crore in the same period last year, registering a year-on-year decline of 25.73 per cent. Net revenue of the company declined moderately by 8.99 per cent at Rs 1,346.57 crore in April-June quarter of this fiscal as against Rs 1,479.66 crore in the corresponding period last year. During April-June quarter, operating expenses dropped by 5.14 per cent to Rs 997.04 crore from Rs 1,051.06 crore in year ago period.

Other Income grew by 17.05 per cent at Rs 40.10 crore versus (Jun'18 Rs 34.26 crore). Operating Profit slipped by 18.45 per cent to Rs 349.53 crore as against Rs 428.60 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 10.39 per cent in June quarter. Interest grew by 53.38 per cent y-o-y to Rs 38.79 crore, while Taxation decreased by 27.02 per cent at Rs 88.10 crore (Jun'18 Rs 120.72 crore).