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Chennai| Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER), the Motion Technology Company, today announced that the Board of Directors approved the results for the second quarter and half yeard ended June 30, 2024.
April – June 2024 (2nd Quarter)
- Revenue from operations (net) for the quarter (Q2’24) was INR 20,719 million, 13.3% higher than the corresponding quarter of 2023 and 12.0% higher than preceding quarter (Q1’24)
- PBT (before exceptional items) for the quarter (Q2’24) was INR 3,399 million, 6.9% higher than the corresponding quarter of 2023. PBT margin for the quarter stood at 16.4%, compared to 17.4% during the corresponding quarter of 2023 and 16.5% during the preceeding quarter
- Net Profit for the quarter was INR 2,535 million and net profit margin stood at 12.2%
January – June 2024 (Six Months)
- Revenue from operations (net) for the six months period was INR 39,212 million, higher by 11.3% than the corresponding period of 2023
- PBT (before exceptional items) for the six months period was INR 6,456 million, higher by 5.5% than the corresponding period of 2023. PBT margin for the six months stood at 16.5%, compared to 17.4% during the corresponding period of 2023
- Net profit for the six months period was INR 4,812 million and net profit margin stood at 12.3% compared to 13.0% during the corresponding period of 2023
Commenting on the results, Mr. Harsha Kadam, Managing Director and Chief Executive Officer, said, “Progressing further into 2024, growth accelerated for our domestic business and momentum was sustained for intercompany exports. Margins were backed by the broad-based performance across businesses and focused approach on cost management. We remain committed to deliver on our financial and operating metrics while creating long-term value for our stakeholders with an unwavering commitment to our environment, social and governance framework.“
Note : Comments and details on standalone financials for the quarter and half year ended 30th June 2024
