Schaeffler India gains after decent Q3 performance; PAT margin rises by 80 bps YoY

Schaeffler India rose 1.02% to Rs 3221.90 after the company reported 26.1% jump in net profit to Rs 215.4 crore on a 18.1% increase in net sales to Rs 1,756.43 crore in Q3 September 2022 over Q3 September 2021.

Net profit margin in the third quarter stood 12.3% as compared with 11.5% during the corresponding quarter of 2021.

Profit before tax (PBT) for Q3 CY2022 was Rs 289.6 crore, up by 26.1% from Rs 229.63 crore recorded in the corresponding quarter of 2021.

PBT margin for the quarter stood at 16.5%, compared to 15.4% during the corresponding quarter of 2021.

The company said that the YoY growth in revenue was driven by automotive business. The firm was able to sustain its margin levels despite challenging market environment and inflationary pressures.

Harsha Kadam, managing director, said, Our balanced business mix, efforts towards delivering seamless customer value and constant engagement, continues to help us in achieving yet another quarter of strong performance, despite inflationary pressures and a challenging market environment.

While keeping a close watch on the external headwinds, we continue to stay focused on our growth trajectory."

Schaeffler India has been present in India for over 50 years. With 3 well known product brands LuK, INA and FAG, 4 manufacturing plants and 8 sales offices, Schaeffler has a significant presence in India. The company is among the largest industrial and automotive suppliers. It also has the largest after-market networks serving the industrial and automotive customers.

Powered by Capital Market - Live News