Profit before tax stood at Rs 313.47 crore in Q3 CY2023, up 9.03% as compared with Rs 289.57 crore in Q2 CY2022.

The company stated that performance for the quarter supported by continued growth in domestic business. Quality of earnings sustained, strong performance on operating metrics.

Harsha Kadam, managing director, said, “Continued focus across our domestic businesses, recovery in our key sectors and strategic initiatives to enhance our market position aided the performance. Our focus on operational efficiencies and stable input costs helped sustain the quality of earnings. We remain committed to focus on performance to mitigate external headwinds, and deliver long-term value to all our stakeholders.”

The shares of Schaeffler India were higher 0.66% to Rs 2,994.00 on the BSE