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Schaeffler India Limited announces Q2 and Half yearly results for the period ended June 30, 2019

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2019-07-23 | Pune

Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the second quarter and half year, ended June 30, 2019.

April – June 2019 (Second quarter)

  • Total revenue from operations (net) for the quarter was INR 11,167 million, higher by 1.5% than the corresponding quarter of 2018 and 4.7% lower than the preceding quarter.
  • PBT (before exceptional items) for the quarter was INR 1,326 million, lower by 22.5% than the corresponding quarter of 2018 and 18.5% lower than the preceding quarter.

January – June 2019

  • Total revenue from operations (net) for the six months period was INR 22,890 million, higher by 4.8% than the corresponding period of 2018.
  • PBT (before exceptional items) for the six months period was INR 2,951 million, lower by 13.2% than the corresponding period of 2018..

Commenting on the results and financial performance of Schaeffler India Limited, Mr. Dharmesh Arora, Managing Director, said, “Indian automotive industry continued to witness unprecedented slowdown across all segments. In the quarter, Auto OEMs cut down production significantly which affected the whole industry, including us. Good thing is we were able to buck the trend due to our strong presence in Industrial business, that delivered growth. While it is anticipated that the market might remain volatile for a while, our focus to continually improve operational excellence and build future oriented organization should deliver superior results as the market improves.”

Publisher: Schaeffler India
Country: India

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