Balu Forge Industries Q4 net profit grows 43% to over Rs 15 crore

Balu Forge Industries Limited (BFIL) reported a jump of more than 43 per cent in its consolidated net profit at Rs 15.24 crore in the March 2023 quarter, buoyed by higher income.

The company said in a BSE filing on Tuesday that it reported a net profit of Rs 10.63 crore in the same quarter last year.

The company’s total income rose to Rs.12.4.33 crore in the quarter from Rs.87.49 crore in the period last year.

Its expenses increased to Rs.107.06 crore in the quarter under review from the Rs.74.01 crore recorded in the year-ago quarter.

Meanwhile, the Board of Directors of the company has approved the appointment of Amit Todkari as Chief Financial Officer and Chief Administrative Officer from May 10, 2023.

Mumbai based BFIL is also in the process of commissioning a precision machining line for the recently purchased Mercedes Benz Truck Factory from Mannheim, Germany.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)

First published: May 10, 2023 | 12:11 p.m ist