Search term

Schaeffler India Limited announces Q2 and Half yearly results for the period ended June 30, 2020

Pressrelease Stage Image

2020-07-24 | Pune

  • All plants and warehouses are operational and catering to the market demand as per order book
  • All operations being carried out following strict adherence to safety guidelines

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, 2020.

April – June 2020 (Second quarter)

  • Total revenue from operations (net) for the quarter was INR 4,389 million, lower by 52.7% than the preceding quarter and 60.7% lower than the corresponding quarter of 2019.
  • PBT (before exceptional items) for the quarter was INR -567 million.

January – June 2020 (Half year)

  • Total revenue from operations (net) for the six months period was INR 13,674 million, lower by 40.3% than the corresponding period of 2019.
  • PBT (before exceptional items) for the period was INR 534 million.

Commenting on the results and financial performance of the Company, Mr. Harsha Kadam, Managing Director, said, “The economy and market has just survived a high magnitude pandemic effect. After a full month of lockdown in April, and a staggered resumption of operational activity in May and June, we could manage to curtail our effective production loss to 52 days during the quarter as against a prolonged nationwide lockdown . This impacted the operational performance significantly and thereby resulted into a loss situation during the quarter. While it is not possible to predict normalization of market and economy, our efforts are aimed towards responding to crisis with agility and ensuring business continuity without losing sight of the future. We have managed to weather the storm and demonstrated that our fundanmentals are strong. While slow demand still continues, we are looking at a better H2 2020 against the challenges ahead“.

Publisher: Schaeffler India
Country: India

Related media

Terms of use for Schaeffler press pictures

Schaeffler press pictures may only be used for editorial purposes. Unless otherwise stated, all copyrights and rights of use and exploitation are owned by Schaeffler Technologies AG & Co. KG, Herzogenaurach (Germany) or by one of its affiliated companies. The reproduction and publication of Schaeffler press pictures is only permitted if the source is stated as follows: "Image: Schaeffler". The pictures may be used free of charge in such cases. The use of pictures for advertising or other commercial purposes, in particular their disclosure to third parties for commercial purposes, is hereby prohibited. Pictures may only be edited with the approval of Schaeffler.

We kindly request that a specimen copy be sent to us when Schaeffler press pictures are published in printed media (or a digital copy in the case of publication in electronic media). When using Schaeffler press pictures in films, please notify us and state the title of the film.

Use and utilization of Schaeffler press pictures is subject to the substantive laws of Germany without its conflict of law provisions. The place of competent jurisdiction shall be Nuremberg, Germany.

Postal address:
Schaeffler Technologies AG & Co. KG
Corporate Communication
Industriestrasse 1-3
91074 Herzogenaurach
Germany

presse@schaeffler.com

Downloads

Package (Press release + media)

Share Page

Schaeffler applies cookies to secure an optimal use. With the further use of this website you accept the application of cookies. More Information

Accept