Schaeffler India Q1 Results | Net profit flat at ₹219.7 crore, revenue rises 11%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Industrial and automotive parts maker Schaeffler India Ltd on Thursday (April 25) reported a flat net profit of ₹219.7 crore for the first quarter that ended March 31, 2024. The company follows the January to December financial year.

In the corresponding quarter, Schaeffler India posted a net profit of ₹219.4 crore, the company said in a regulatory filing. The company’s revenue from operations increased 10.6% to ₹1,873.1 crore against ₹1,693.6 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA rose 4.8% to ₹329.8 crore in the first quarter of this fiscal over ₹314.7 crore in Q4 of the previous fiscal. The EBITDA margin stood at 17.6% in the reporting quarter against 18.6% in the corresponding period of FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Harsha Kadam, Managing Director, said, “Margins for the quarter remained resilient despite seasonality in some of our sectors. With a good rebound in our intercompany exports for the quarter, we remain cautiously optimistic of the challenging and volatile macro-economic environment. With focused efforts on financial and operating metrics, we remain committed to deliver long-term value for all our stakeholders.”

The results came after the close of the market hours. Shares of Schaeffler India Ltd ended at ₹3,277.15, down by ₹13.60, or 0.41%, on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow