Schaeffler India Q3 net up 12 pc at Rs 59 cr

Schaeffler India today reported a 11.61 per cent increase in its net profit at Rs 58.62 crore for the September quarter of the current fiscal.
The company had posted a net profit at Rs 52.52 crore during the same period of the previous fiscal, the domestic arm of German automotive and industrial major Schaeffler (formerly FAG Bearings India) said in a BSE filing.
The company follows the January-December fiscal.
Total income during the quarter under review stood at Rs 510.26 crore as against Rs 528.48 crore in the year ago period.
"During the quarter, we witnessed some uncertainties due to GST implementation, particularly in distribution business. The company has delivered good growth in a challenging environment," Schaeffler India Managing Director Dharmesh Arora said.

The company's stock closed 2.25 per cent down at Rs 5,091.45 apiece on BSE today.