The integrated net profit of auto parts company Bharat Forge declined by 28 percent to 171.92 crore in the first quarter of the current financial year. The company had a net profit of 238.74 crores in the same period of its last financial year.
According to the information given to the stock market, the company's total income fell 3.31 percent to Rs 2,372.79 crore during the period under review. The total income of the company was 2,454.07 crores in the same period of the previous financial year.
Bharat Forge Chairman and Managing Director BN Kalyani said that the first quarter of the current financial year has been very challenging. The main reason for this is the negative demand in the domestic market.