Bharat Forge, Pune based forging company on Friday reported a consolidated profit after tax of Rs 2,121.23 million for the March quarter on healthy sales income. The auto ancillary company had posted a loss of Rs 685.94 million in Q4FY20.

Revenue from operations grew 19.57% to Rs 20,828.49 in Q4FY21, as against Rs 17,419.24 million in the year-ago quarter. EBITDA has increased by 310 basis points despite cost inflationary pressures, the company said.

On standalone basis, the company reported a net profit of Rs 2,054.48 million for the quarter ended March 2021 as against net loss of Rs 732.96 million reported in the same quarter previous year. The revenue from operations rose 48.4% to Rs 13,073.46 million as compared to Rs 8,811.78 million in the corresponding quarter of the previous fiscal.

The board recommended a final dividend of Rs 2 per share. The final dividend for the financial year ended March 31, 2021, if approved by member, will be paid on or after August 20, 2021, the company said on Friday.

"The year has ended on a strong note with sharp recovery visible in all our end markets. Q4FY21 has witnessed a 26.2% growth in sales on back of 43% growth in exports, which is now witnessing growth in all key segments. Despite cost inflationary pressures, EBITDA% has increased by 310 bps," said B N. Kalyani, Chairman & Managing Director.

"As we enter FY22, we are seeing robust demand continue in major segment in the export business. The lockdown in India to curtail the spread of Covid has clearly had an impact on demand & production in the automotive sector. We are optimistic that this weakness is temporary in nature and we will witness growth in India as business activities normalize," he added.

Shares of the company gained Rs 55.25, or 7.94%, to settle  at  Rs 751.10.  The total volume of shares traded  was  829,398 at  the BSE (Friday).