Sona BLW precision Forgings sees 3.4% surge on robust Q3 Performance

By Aditya Bhagchandani Published on January 24, 2024, 10:58 IST

Shares of Sona BLW Precision Forgings traded 3.4% higher in the morning session, reaching Rs 599 on January 24, following the company’s impressive financial results for the third quarter.

Sona BLW reported a noteworthy 24% year-on-year rise in net profit, reaching Rs 113.6 crore for the third quarter. In the corresponding period of the previous fiscal year, the company experienced substantial growth in revenue from operations, surging by 15.8% to reach Rs 781.80 crore, compared to Rs 675.30 crore.

At 9:55 am, the stock was trading at Rs 588, marking a 1.5% increase from the previous close on the NSE. Over the last year, the stock has delivered a commendable return of over 35%, reflecting positive investor sentiment towards the company’s performance and growth prospects. Investors are closely watching Sona BLW as it continues to navigate the evolving market dynamics in the precision forgings sector.

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Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.