Bharat Forge slips to Rs 90 crore loss on restructuring

Bharat Forge is a big company in India that makes strong metal parts for cars and for defence.

In the three months from April to June, the company lost 90 crore rupees.

In the same months last year, it had earned a profit of 284 crore rupees.

The main reason for the loss is a factory the company owns in Germany.

That factory is facing tough market conditions and costs too much to run.

So the company decided to make big changes there, called restructuring, which cost a lot of money this quarter.

Even with the loss, the company sold more products than before.

Its sales went up by about 19 percent to 4,640 crore rupees.

But the profit from each sale got smaller, so overall it ended up losing money.

The company's leaders also approved a plan to raise money to help the business grow.