Bharat Forge Shares Drop Up to 8% After Q1 Profit Miss

$BHARATFORG ge shares fell as much as 8% on August 10 after the company reported a lower-than-expected net profit for the June quarter. Net profit declined 5% year-on-year to ₹321 crore, missing CNBC-TV18 estimates of ₹338.5 crore. Revenue, however, rose 11.5% to ₹2,347 crore from ₹2,105 crore in the year-ago period. EBITDA grew 2.4% to ₹585.6 crore, with margins at 24.95%. By 2:40 pm, the stock was trading 7.5% lower at ₹2,095.6. Analysts noted that remarks by CMD Baba Kalyani—that medium-term profitability may remain challenging—also weighed on sentiment. Separately, the Pune-based firm approved a fund-raise of up to ₹2,500 crore through equity, debt or convertible securities, subject to necessary approvals. The exact route has not yet been finalised.