Schaeffler India Q1 net profit slips 4% at Rs 106 crore

The company posted Rs 110.54 crore net profit for Q4 FY'18, as per a regulatory filing.

  • Updated On May 8, 2019 at 11:45 AM IST
<p>Strong performance in industrial business helped in delivering largely flat quarterly result despite the softness in automotive: Arora</p>
Strong performance in industrial business helped in delivering largely flat quarterly result despite the softness in automotive: Arora
New Delhi: Auto component supplier Schaeffler India on Tuesday reported 3.9 per cent decline in its net profit at Rs 106.18 crore for the first quarter ended March 31 2019. The company follows January-December calendar for the fiscal.

The company posted Rs 110.54 crore net profit for Q1 FY'18, as per a regulatory filing.

Total revenue from operations for the quarter was Rs 1,172.3 crore, up by 8.2 per cent than the corresponding quarter of 2018 and 1.2 per cent lower than the preceding quarter.

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PBT (before exceptional items) for the period under review was Rs 162.6 crore, lower by 3.7 per cent, than the corresponding quarter of 2018 and 3.7 per cent higher than the preceding quarter.

Commenting on the results and financial performance of Schaeffler India, Dharmesh Arora, Managing Director, said, “Indian automotive industry continued to show weakness, returning negative year on year development for the quarter. Auto OEMs maintained cautious production levels to avoid inventory build-up. Our strong performance in industrial business helped in delivering largely flat quarterly result despite the softness in automotive."

"This development, once again confirms robustness of our combined business in India. We are optimistic that the automotive business will also return to stronger growth in the second half of this calendar year.”
  • Published On May 1, 2019 at 07:47 AM IST
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