Net profit margin for the April – June 2023 quarter stood at 13% as compared to 12.9% during the corresponding quarter of 2022.

Revenue from operations for Q2 CY2023 was Rs 1,829.1 crore, higher by 4.6% than the corresponding quarter of 2022.

Profit before tax (before exceptional items) for the quarter (Q2 CY2023) was Rs 318 crore, 11.3% higher than the corresponding quarter of 2022. PBT margin for the quarter stood at 17.4%, compared to 16.3% during the corresponding quarter of 2022.

The industrial and automotive supplier said that the revenue momentum continued across all domestic businesses. Volume gains and input cost stability helped sustain margins.

The company's net profit for the January – June 2023 period was Rs 456.7 crore and net profit margin stood at 13.0% compared to 13.1% during the corresponding period of 2022.

Revenue from operations (net) for the six months period was Rs 3,522.8 crore, higher by 6.2% than the corresponding period of 2022. Harsha Kadam, managing director, said, “We continued our growth momentum during the first half of 2023 despite certain macroeconomic challenges. A strong performance across our domestic businesses helped navigate the moderation in exports.

Our trajectory of business wins and focussed efforts on increasing market coverage strongly aided our performance. Volume gains and stability in input costs enabled to sustain the earnings quality.

We remain cautiously optimistic while we see some signs of uptick across key sectors.”

Schaeffler is among the largest industrial and automotive supplier with 3 well known product brands (LuK, INA and FAG), 4 manufacturing plants and 8 sales offices. Schaeffler also has the largest after-market networks serving the industrial and automotive customers.

The scrip declined 4.16% to currently trade at Rs 3053.35 on the BSE.