Bharat Forge shares fall more than 4% after Q3 results
The stock witnessed a similar movement on the NSE, where it slumped by 4.22 per cent to Rs 836.65 per share.
Shares of auto components major Bharat Forge on Wednesday fell over 4 per cent in late morning trade on Wednesday after the company reported a decline in profit for the third quarter ended December 31, 2022.
In the late morning session, the scrip of the company declined by 4.38 per cent to Rs 835.55 apiece on the BSE.
The stock witnessed a similar movement on the NSE, where it slumped by 4.22 per cent to Rs 836.65 per share.
Also read:THESE 4 tips can help you repay dues faster
Meanwhile, the 30-share BSE Sensex was trading 37.93 points or 0.06 per cent higher at 61,070.19 in the late morning trade.
On Tuesday, Bharat Forge Ltd (BFL) reported an 81.35 per cent decline in consolidated net profit at Rs 78.72 crore in the third quarter ended December 2022, hit by higher expenses.
It had posted a consolidated net profit of Rs 422 crore in the same period last fiscal, the firm said in a regulatory filing.
Its consolidated revenue from operations in the quarter under review was at Rs 3,353.36 crore, as against Rs 2,394.69 crore in the same period last fiscal.
Total expenses in the October-December period this fiscal was at Rs 3,178.9 crore, up from Rs 2,093.39 crore in the year-ago quarter, it added.
Click here to get more stock market updates I Zee Business Live
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Stocks To Buy For 2 Weeks: Axis Direct recommends buying these stocks for 5-15 day; check targets, stop losses
Gold now down nearly Rs 6200/10 gm from all-time highs hit in October end: Should you wait or bet on opportunity?
Exclusive: Sebi reviews authorised person regulations; discusses minimum qualification, NISM certification and deposit amount criteria
01:13 PM IST