Bharat Forge's net profit for Q2 increased by 4.4% year-on-year to Rs 361 crore, despite a slight decline in revenue of Rs 2,246.6 crore.

The company's EBITDA also rose by 3% year-on-year to Rs 625.4 crore, with margins improving to 27.8% from 27.1% in the previous year.

The decline in revenue was due to weak European automotive markets, resulting in a 9% year-on-year decrease in export revenue. However, the CV export business outside of Europe experienced a 14% year-on-year growth, driven by strong demand from North America.

In the domestic market, the CV sector remained sluggish compared to the previous year. Bharat Forge remains optimistic about the long-term outlook for CVs in India, citing the government's capital expenditure push and increased construction and manufacturing activities as positive indicators.