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Auto Parts & Equipment company Schaeffler India announced Q3CY23 & 9MCY23 results:
- Standalone Q3CY23:
- Revenue from operations (net) for Q3CY23 was Rs 18,483 million, higher by 5.2% than the corresponding quarter of 2022 and 1.0% higher than Q2CY23.
- PBT (before exceptional items) for Q3CY23 was Rs 3,157 million, 9.0% higher than Q3CY22.
- PBT margin for Q3CY23 stood at 17.1%, compared to 16.5% during Q3CY22.
- Net Profit for Q3CY23 was Rs 2,350 million and net profit margin stood at 12.7% compared to 12.3% during Q3CY22.
- Standalone 9MCY23:
- Revenue from operations (net) for 9MCY23 was Rs 53,711 million, higher by 5.9% than 9MCY22.
- PBT (before exceptional items) for 9MCY23 was Rs 9,279 million, higher by 8.8% than 9MCY22.
- PBT margin for 9MCY23 stood at 17.3%, compared to 16.8% during 9MCY22.
- Net profit for 9MCY23 was Rs 6,917 million and net profit margin stood at 12.9% compared to 12.8% during 9MCY22.
Commenting on the results, Harsha Kadam, Managing Director, said, “Continued focus across our domestic businesses, recovery in our key sectors and strategic initiatives to enhance our market position aided the performance. Our focus on operational efficiencies and stable input costs helped sustain the quality of earnings. We remain committed to focus on performance to mitigate external headwinds, and deliver long-term value to all our stakeholders.“
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