Schaeffler India Registers Growth Of 8% In Q1'23

Industrial and automotive supplier, Schaeffler India has announced the results for the first quarter, ended March 31, 2023

January – March 2023 (1st Quarter)

Revenue from operations (net) for the quarter (Q1’23) was Rs. 16,936 million, 8.0 per cent higher than the corresponding quarter of 2022 and 5.6 per cent lower than the preceding quarter (Q4’22)

PBT (before exceptional items) for the quarter (Q1’23) was Rs. 2,941 million, 6.0 per cent higher than the corresponding quarter of 2022. PBT margin for the quarter stood at 17.4 per cent, compared to 17.7 per cent during the corresponding quarter of 2022 and 17.2 per cent during the preceding quarter

Net Profit for the quarter was Rs. 2,194 million and net profit margin stood at 13.0 per cent

Commenting on the results, Harsha Kadam, Managing Director, said, “The automotive technologies and automotive aftermarket business registered strong YoY growth. Our balanced business portfolio and focus on operational efficiencies helped us to mitigate the external headwinds resulting in resilient margins. As we move ahead in 2023, we remain committed to continue our growth trajectory while taking cognizance of the volatality and challenges in the market enviornment.“