Schaeffler India surges 4% after posting net profit at Rs128.1cr for second quarter

The company’s total revenue from operations for the quarter (Q2) was Rs1232.9cr, higher by 180.9% yoy.

Jul 22, 2021 09:07 IST India Infoline News Service

Quarterly Results
Pune-based leading industrial and automotive supplier, Schaeffler India Limited on Wednesday announced its board-approved second quarter (Q2) and half-yearly (calendar year) results for the quarter ending June 30, 2021.

The company’s total revenue from operations (net) for the quarter (Q2) was Rs1232.9cr higher by 180.9% than the corresponding quarter of 2020 and 6.4% lower than the preceding quarter (Q1’21).

PBT (before exceptional items) for the quarter (Q2) was Rs170.7cr, 401.4% higher than the corresponding quarter of 2020 and lower by 8.2% than the preceding quarter (Q1’21). PBT margin for the quarter stood at 13.8%, against -12.9% during the corresponding quarter of 2020 and 14.1% for the preceding quarter (Q1’21).

Net Profit for the quarter stood at Rs128.1cr as against net loss of Rs42.47cr during the previous quarter ended June 2020. Net Profit margin for the quarter stood at 10.4%.

Total revenue from operations (net) for the six months period (January – June 2021) was Rs2549.7cr, higher by 86.5% than the corresponding period of 2020.  PBT (before exceptional items) for the six months period was Rs356.6cr, 567.3% higher than the corresponding period of 2020. PBT margin for the six months stood at 14%, against 3.9% during the corresponding period of 2020.

Net profit for the period stood at Rs267.7cr and the Net profit margin for the period stood at 10.5%.

At around 9.48 AM, Schaeffler India Ltd was trading at Rs5635.00 per piece up Rs226.75 or 4.19% from its previous closing of Rs5,408.25 per piece on the BSE. The stock hit a day's high of Rs5674.00 per piece early on Thursday.

“Our robust performance continued in Q2 despite the strong headwinds from Covid19 wave-2 and input cost pressures. Our focus on countermeasures and an improved mix has enabled us to sustain the performance momentum. We continue to build on our strong position, deepening our customer focus and widening our market reach. As the Covid19 wave-2 subsides and the consumer sentiments improve, we are optimistic that the market would come back on a faster growth trajectory,” Harsha Kadam, Managing Director, said.

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