Schaeffler India Limited announces results for the first quarter ended March 31, 2023
Pune,18 April, 2023: Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved 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 INR 16,936 million, 8.0% higher than the corresponding quarter of 2022 and 5.6% lower than preceding quarter (Q4’22)
· PBT (before exceptional items) for the quarter (Q1’23) was INR 2,941 million, 6.0% higher than the corresponding quarter of 2022. PBT margin for the quarter stood at 17.4%, compared to 17.7% during the corresponding quarter of 2022 and 17.2% during the preceeding quarter
· Net Profit for the quarter was INR 2,194 million and net profit margin stood at 13.0%
Commenting on the results, Mr. 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.“
