Bharat Forge Q2 net up 52% to ₹215cr

  • | Tuesday | 7th November, 2023

Pune: Bharat Forge reported a 52% jump in its consolidated net profit in the quarter ended on September 30 to Rs 214.9 crore, as compared to Rs 141.5 crore in the same quarter last year. The companys revenue from operations was up 23% to Rs 3,774 crore during the quarter under review against Rs 3,076.4 crore last year. The consolidated operating margin improved to Rs 16.5% as of September 30 from 13.9% in the same period last year.PV segment has seen positive growth over the past few quarters led by order wins from newer geographies and customers. During the quarter, the companys defence vertical secured new business worth Rs 1,100 crores taking the executable order book to Rs 3,000 crores, over the next 24 months.TNNWe also published the following articles recentlyBorosil Renewables net profit grows to Rs 30 crore in July-September quarterBorosil Renewables reported a 25% increase in its net profit for the September 2023 quarter, reaching Rs 30.47 crore. The rise in profit was driven by higher income, with the companys total income surging to Rs 406.31 crore. Despite the increase in expenses to Rs 409.74 crore, Borosil Renewables remains the sole solar glass manufacturer in India.Adani-Total Gas September quarter profit up 20% to Rs 168 croreAdani Total Gas Ltd, the joint venture between Adani Group and TotalEnergies, reported a 20% increase in net profit for the September quarter, driven by higher sales of compressed natural gas (CNG). CNG sales rose by 20% to 113 million standard cubic meters, while piped gas supplies dropped by 3% to 75 mmscm. The company added 23 new CNG stations and connected 51,801 homes with piped cooking gas. Adani Total Gas is also focusing on building PNG and CNG infrastructure and expanding its e-mobility and biomass businesses.Sun Pharma posts Rs 2,375.5 crore Quarter 2 net profitSun Pharmaceuticals has reported a 5% increase in its consolidated net profit for the second quarter of FY 2024. The companys revenue also rose by 11.3% compared to the year-ago period. Sun Pharmas India formulation sales increased by 11.1%, while its US formulation sales grew by 4.2%. The company also highlighted the acceptance of its deuruxolitinib NDA by the US FDA as an important milestone for the treatment of alopecia areata. Sun Pharmas API business also showed growth, with a 5.1% increase in external sales.

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