New Delhi: Schaeffler India Limited the motion technology company, has said that its revenue from operations (net) for the first quarter, ended March 31, 2024 (January-March 2024) (Q124) was INR 1849.2 crore, 9.2% higher than the corresponding quarter of 2023 and -0.3% lower than the preceding quarter (Q423).
PBT (before exceptional items) for the quarter (Q124) was INR 305.6 crore, 3.9% higher than the corresponding quarter of 2023.
PBT margin for the quarter stood at 16.5%, compared to 17.4% during the corresponding quarter of 2023 and 16.2% during the preceding quarter.
Net Profit for the quarter was INR 227.7 crore and net profit margin stood at 12.3%
Harsha Kadam, Managing Director, said, “The Year 2024 started well for us as we registered a strong YoY growth in our domestic business. Margins for the quarter remained resilient despite seasonality in some of our sectors. With a good rebound in our intercompany exports for the quarter, we remain cautiously optimistic of the challenging and volatile macroeconomic environment. With focused efforts on financial and operating metrics, we remain committed to deliver long term value for all our stakeholders.”
