Schaeffler India Limited announces results for the third quarter and nine months ended September 30, 2024

• Double-digit YoY growth, domestic business continues to aid performance
• Quality of earnings sustained, reflects focus on cost management

Chennai | Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER), the Motion Technology Company, today announced that the Board of Directors approved the results for the third quarter and nine months ended September 30, 2024.

July – September 2024 (3rd Quarter)

• Revenue from operations (net) for the quarter (Q3’24) was INR 20,728 million, 12.1% higher than the corresponding quarter of 2023 and 0.04% higher than preceding quarter (Q2’24)
• PBT (before exceptional items) for the quarter (Q3’24) was INR 3,332 million, 5.5% higher than the corresponding quarter of 2023. PBT margin for the quarter stood at 16.1%, compared to 17.1% during the corresponding quarter of 2023 and 16.4% during the preceeding quarter
• Net Profit for the quarter was INR 2,471 million and net profit margin stood at 11.9%

January – September 2024 (Nine Months)

• Revenue from operations (net) for the nine months period was INR 59,940 million, higher by 11.6%  than the corresponding period of 2023

• PBT (before exceptional items) for the nine months period was INR 9,787 million, higher by 5.5% than the corresponding period of 2023. PBT margin for the nine months stood at 16.3%, compared to 17.3% during the corresponding period of 2023
• Net profit for the nine months period was INR 7,283 million and net profit margin stood at 12.2% compared to 12.9% during the corresponding period of 2023

Commenting on the results, Mr. Harsha Kadam, Managing Director and Chief Executive Officer, said, “ Our domestic business continued its growth momentum as we progressed into second half of the year. Despite a challenging market environment, the Automotive Technologies and Bearings & Industrial Solutions business showed an upward trend. The sustained quality of earnings reflects our constant focus on cost management and realization of financial and operating margins. As we navigate the external landscape, we remain committed to growth, profitability, and value creation.”

Note : Comments and details on standalone financials for the quarter and half year ended 30th September 2024