The Pune-headquartered Indian arm of the German Tier-1 major attributes its strong growth to a focused approach to cost management.
23 Jul 2024 | 1970 Views | By Autocar Professional Bureau
Schaeffler India, the Pune-headquartered Indian arm of the German Tier-1 major, has announced its Q2 FY25 results today, with the company recording a net operating revenue of Rs 2,071.9 crore in the April-June 2024 period, thereby registering a double-digit 13.3 percent year-on-year growth. Its ...
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Schaeffler India, the Pune-headquartered Indian arm of the German Tier-1 major, has announced its Q2 FY25 results today, with the company recording a net operating revenue of Rs 2,071.9 crore in the April-June 2024 period, thereby registering a double-digit 13.3 percent year-on-year growth. Its profit-before tax (PBT) before exceptional items in the same timeframe stood at Rs 340 crore, 6.9 percent higher than the corresponding quarter of FY24.
The company’s Q2 PBT margin was pegged at 16.4 percent, compared to 17.4 percent during the year-ago corresponding quarter. While its net profit in Q2 FY25 was pegged at Rs 253.5 crore, its net profit margin stood at 12.5 percent.
In the January-June 2024 half-yearly time frame, Schaeffler India reported net operating revenue of Rs 3,921 crore, registering an 11.3 percent YoY growth. The company’s PBT before exceptional items from January-June 2024 stood at Rs 645.6 crore, up 5.5 percent than that in the January-June 2023 period.
Its PBT margin for the six-month period was pegged at 16.5 percent, compared to 17.4 percent in the same year-ago timeframe. Schaeffler India reported a net profit of Rs 481.2 crore for the six-month period, whereas its net margin stood at 12.3 percent, compared to 13 percent during the corresponding period in 2023.
According to Harsha Kadam, Managing Director, and Chief Executive Officer, “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.”