Bharat Forge net up 138 per cent in Q2

On the back of improving market conditions,stand-alone revenue and EBIDTA for Q2 reached Rs. 433.6 crores and Rs. 108.4 crores,a sequential growth of 19.2 per cent and 35.3 per cent respectively.

However,standalone revenue and EBITDA on a Year-on-Year basis declined by 36.8 per cent and 35.5 per cent respectively.

Commenting on the results,Baba Kalyani,chairman and managing director,Bharat Forge Ltd said in a company release that the performance has continued to improve on a sequential basis,in line with the pick up in demand in the domestic medium and heavy commercial vehicle segment.

“The Indian automotive sector has continued the upward trend that began a few months ago.In the export markets,the bottom has been reached and we are now seeing signs ofgradual recovery.The export markets have stabilised albeit at very low levels compared to last year,” he said.