Balu Forge Industries Limited (BFIL) reported an 86% increase in its consolidated profit after tax to Rs 28.28 crore for the quarter ending in March 2024 due to higher income.
This is compared to the Rs 15.24 crore profit after tax (PAT) it recorded in the fourth quarter of the previous fiscal year, as stated in an exchange filing on Tuesday.
The company’s total income also increased to Rs 165.55 crore from Rs 124.32 crore in the January-March FY23 period. Meanwhile, its expenses during this quarter were Rs 130.94 crore, up from Rs 107.06 crore a year ago.
BFIL, based in Mumbai, manufactures forged metal components used in various sectors such as marine and industrial, agricultural, and automotive.