Bharat Forge Ltd. warned in its earnings presentation that it is witnessing exports to the North American market decline further in the second half of the current financial year given the challenging demand conditions.

However, the company went on to add that the industrial business across India, exports to non-US geographies and a ramp-up in the company's defence business will more than offset the weakness in the US exports.

In response to the company's bullish commentary, the shares of Bharat Forge have seen a sharp recovery from the lows of the day to gain as much as 4%.

For the September quarter, Bharat Forge reported a 23% growth in its consolidated net profit to ₹299 crore, which is higher than the CNBC-TV18 poll of ₹236 crore.

Revenue for the quarter increased by 9.3% from last

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