Schaeffler India Limited announces Q3 and nine month results for the period ended September 30, 2022
New Delhi: Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the third quarter and nine months ended September 30, 2022
July – September 2022 (Third Quarter)
· Total revenue from operations (net) for the quarter (Q3 CY2022) was INR 17,564 million, higher by 18.1% than the corresponding quarter of 2021 and 0.4% higher than preceding quarter (Q2 CY2022)
· PBT (before exceptional items) for the quarter (Q3 CY2022) was INR 2,896 million, 26.1% higher than the corresponding quarter of 2021. PBT margin for the quarter stood at 16.5%, compared to 15.4% during the corresponding quarter of 2021
· Net Profit for the quarter was INR 2,154 million and net profit margin stood at 12.3% compared to 11.5% during the corresponding quarter of 2021
January – September 2022 (Nine Months)
· Total revenue from operations (net) for the nine months was INR 50,728 million, higher by 25.6% than the corresponding period of 2021
· PBT (before exceptional items) for the year was INR 8,525 million, higher by 45.4 % than the corresponding period of 2021. PBT margin for the nine months stood at 16.8%, compared to 14.5% during the corresponding period of 2021
· Net profit for the period was INR 6,482 million and net profit margin stood at 12.8% compared to 10.9% during the corresponding period of 2021
Commenting on the results, Mr. Harsha Kadam, Managing Director, said, “ Our balanced business mix, efforts towards delivering seamless customer value and constant engagement, continues to help us in achieveing yet another quarter of strong performance, despite inflationary perssures and a challengeing market enviornment. While keeping a close watch on the external headwinds, we continue to stay focused on our growth trajectory. As we continue to strengthen our enviornment, social and governance framework, we remain committed on adding sustainable value for all our stakeholders.”