ZF Commercial Vehicle Q2 PAT at Rs 68.64 crore

ZF Commercial Vehicle Control Systems India reported a consolidated net profit of Rs 68.64 crore in Q2 FY23, up by 112.8% from Rs 32.25 crore in Q2 FY22.

Net sales rose by 28.6% YoY to Rs 792.83 crore during the quarter.

Total expenses increased by 23.4% to Rs 714.73 crore in Q2 FY23 over Q2 FY22, due to higher raw material costs (up 29.5% YoY), higher employee expenses (up 11.5% YoY) and higher other expenses (up 10.6% YoY). Finance costs zoomed to Rs 2.13 crore in Q2 FY23 from Rs 0.44 crore in Q2 FY22.

Profit before tax in Q2 FY23 stood at Rs 90.30 crore, which is higher by 100.9% as compared with Rs 44.95 crore recorded in the same period last year.

ZF Commercial Vehicle Control Systems India offers a 'one-stop-shop' for commercial vehicle industry. It is India's market leader for advanced braking systems, conventional braking products and related air assisted technologies and systems in India. In March this year, ZF secured all required approvals for ZF Commercial Vehicle Control Systems India to become the new name for WABCO India. WABCO became part of the ZF Group in May 2020 following ZF's successful acquisition of the company.

The scrip shed 0.26% to currently trade at Rs 9892.15 on the BSE.

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