Mumbai, February , 2019.
Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the fourth quarter ended December 31, 2018.
October – December 2018 (Fourth quarter)
· Total revenue from operations (net) for the quarter was INR 11,863 million, higher by 16.1% than the corresponding quarter of 2017.
· PBT (before exceptional items) for the quarter was INR 1,569 million, in line with the corresponding quarter of 2017.
January – December 2018 (Twelve months)
· Total revenue from operations (net) for the period increased to INR 45,615 million, higher by 16.0% than the corresponding period of 2017.
· PBT (before exceptional items) for the period increased to INR 6,749 million, higher by 13.7% than the corresponding period of 2017.
Commenting on the results and financial performance of Schaeffler India Limited, Mr. Dharmesh Arora, Managing Director, said, “The Automotive sectors of two wheelers, passenger cars and commercial vehicles showed decline in the last quarter of 2018.
Despite this development, Schaeffler delivered growth due to business presence across Industrial sectors, which continued to show strong growth. While we maintained the growth momentum, an adverse mix impacted Q4 earnings quality. For the whole year, we were largely able to manage increased steel prices and hikes in import duties to deliver PBT increase of 13.7%.”