Schaeffler India was down over percent in the morning trade on July 27, a day after the automotive parts maker reported a 5.1 percent year-on-year increase in net profit at Rs 237.3 crore in the June quarter.
The automotive parts maker’s total revenue from operations stood at Rs 1,829 crore, up 4.6 percent from the year-ago period. Schaeffler India is the subsidiary of German-based Schaeffler Technologies AG.
Its earnings before interest, tax, depreciation and amortization, or EBITDA, grew 6.3 percent to Rs 342 crore from Rs 321.6 crore in the year-ago period. The EBITDA margin stood at 18.7 percent against 18.4 percent in the year-ago period.
"A strong performance across our domestic businesses helped navigate the moderation in exports. Our trajectory of business wins and constant efforts on increasing market coverage strongly aided our performance," managing director Harsha Kadam said. He also added that the company performed well despite uncertain macroeconomic conditions.
Follow our market blog for all the live action
In late June, the company inaugurated a new manufacturing unit at its Savli (Vadodara) facility in Gujarat. The new unit will add additional capacity production space and cater to the growing demand in the wind, heavy industries, and railway sectors, the company said in an exchange filing.
The capacity expansion will enable the plant to manufacture spherical roller bearings (SRB) and spherical rollers, while also expanding its heat treatment capabilities, it said.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
