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Schaeffler India Q3 net up 12 pc at Rs 59 cr

Press Trust of India  |  New Delhi 

Schaeffler 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 India) said in a filing.

The company follows the January-December fiscal.

Total 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 implementation, particularly in distribution business. The company has delivered good growth in a challenging environment," Schaeffler Managing Director Dharmesh Arora said.

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 09 2017. 16:57 IST