Schaeffler India Announces Q4 & Twelve Months Results

Schaeffler India Limited has announced that the Board of Directors approved the results for the fourth quarter and twelve months, ended December 31, 2019.

October – December 2019 (Fourth quarter)

·         Total revenue from operations (net) for the quarter was INR 10,365 million, marginally better by 0.1% than the preceding quarter and 12.6% lower than the corresponding quarter of 2018.

·         PBT (before exceptional items) for the quarter was INR 1,241 million, higher by 7.6% than the preceding quarter and 20.9% lower than the corresponding quarter of 2018.

January – December 2019

·         Total revenue from operations (net) for the twelve months period was INR 43,606 million, lower by 4.4% than the corresponding period of 2018.

·         PBT (before exceptional items) for the twelve months period was INR 5,346 million, lower by 20.8% than the corresponding period of 2018.

Commenting on the results and financial performance of Schaeffler India Limited, Harsha Kadam, Managing Director, said, “2019 was an eventful year for all of us at Schaeffler India. We went through many developments, sometimes, in less than favorable circumstances. Despite facing economic headwinds, our balanced business portfolio between Industrial and Automotive ensured we end the year on a decent note. Our focused efforts toward cost management and cost flexing that we were able to achieve, have helped our bottom line and we could protect our margins. The external markets remain volatile but we are optimistic that 2020 will allow us to chart a better course as we prepare for the future.”