Schaeffler India Ltd. reported a 12.1% year-on-year (YoY) increase in revenue for Q3 2024, reaching ₹20,728 million, but saw a 90 bps decline in profit margins. The company posted a net profit of ₹2,471 million, with a profit before tax (PBT) of ₹3,332 million, representing a 5.5% YoY increase. The PBT margin for Q3 2024 was 16.1%, compared to 17.1% in the same period last year.
For the nine-month period ending September 2024, Schaeffler India recorded revenue of ₹59,940 million, reflecting an 11.6% increase. PBT for this period rose by 5.5% to ₹9,787 million, with a net profit of ₹7,283 million and a 12.2% margin.
Despite growth in the company’s domestic business, especially in the Automotive Technologies and Bearings & Industrial Solutions segments, shares fell due to margin pressure.
As of 9:43 am, the shares were trading 2.50% lower at ₹3,780.00 on NSE.
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