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Nov 08, 2017 03:11 PM IST | Source: Moneycontrol.com

Bharat Forge Q2 beats estimates; profit jumps 61% to Rs 204 cr, EBITDA up 49%

Revenue from operations jumped 41.2 percent to Rs 1,258.02 crore, compared with Rs 890.89 crore in corresponding quarter.

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Auto components supplier Bharat Forge has reported a healthy 60.5 percent growth year-on-year in profit for the quarter ended September 2017, driven by revenue as well as operational performance.

Profit for the quarter increased to Rs 203.72 crore from Rs 126.89 crore in year-ago.

Revenue from operations jumped 41.2 percent to Rs 1,258.02 crore, compared with Rs 890.89 crore in corresponding quarter.

Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) surged 49.4 percent year-on-year to Rs 370 crore and margin expanded by 160 basis points to 29.4 percent for quarter ended September 2017.

Numbers were ahead of analyst estimates. Profit was estimated at Rs 191.7 crore and operating income was expected at Rs 352 crore with margin at 28.3 percent for the quarter, according to average of estimates of analysts polled by CNBC-TV18.

The stock touched a fresh record high of Rs 733.65 on the BSE. At 12:47 hours IST, it was quoting at Rs 724.40, up 1.27 percent.
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