Bharat Forge zooms 9 per cent after posting Q2FY19 numbers

Bharat Forge reported its results for the quarter ended September 30, 2018 on Friday during market hours. The company's standalone revenue for the quarter came in at Rs. 1,679.21 crore as against Rs. 1,258.01 crore in the corresponding quarter last year, registering 33.5 per cent yoy increase.

The company's growth was mainly driven by doubling PV export revenue coupled with healthy double digit growth across the segments.

The EBITDA for the quarter rose by 17.6 per cent yoy to Rs. 434.38 crore as against Rs. 369.43 crore in the corresponding quarter last year, with a corresponding margin contraction of 350 bps. EBITDA margin for the quarter stood at 25.9 per cent.

The PAT for the quarter came in at Rs. 227.49 crore as against Rs. 203.72 crore in the corresponding quarter last year, yoy increase of 12 per cent.

During the quarter, the company has bagged new business from a global PV OEM company.

The company's board of directors declared an interim dividend of Rs. 2.5 per share for the face value of Rs. 2 each.

Cheering the healthy quarterly numbers, the stock jumped nearly 9 per cent and made an intraday high of Rs. 636.35 on the BSE.