Schaeffler India logs ~42% yoy growth in Revenue at Rs1,748 crore in Q2CY22; stock zooms ~1.5%

28 Jul 2022 , 11:11 AM

Schaeffler India Limited announced that the Board of Directors approved the results for the second quarter and six months ended June 30, 2022.

Company reported total revenue of Rs1,748 crore in Q2CY22, up by 41.80% against the previous corresponding quarter, and 11.60% against the previous quarter. Total revenue for the six months ended June 30, 2022, stood at Rs3,316.30 crore, registering an upside of 30.10% yoy than the corresponding period of 2021.

Company’s Net Profit during the quarter under review stood at Rs225.80 crore. While profit for the current six-month period was reported at Rs432.90 crore.

The net profit margin for Q2CY22 stood at 12.90% vs 10.4% in the previous corresponding quarter. Six-month net profit margins are reported at 13.10%.

Further, Managing Director outlined that the company’s growth momentum is backed by its diversified portfolio and steady business wins, which enabled in achieving record revenues.

Schaeffler is well-aware of the challenging market conditions and is continuously striving to deliver better performance while it remains committed to climate protection, society, and corporate governance.

At around 11.13 AM, Schaeffler India was trading at Rs2,565.95 up by Rs62.25 or 2.49% from its previous closing of Rs2,503.70 on the BSE. The scrip opened at Rs2,602.95 and has touched intraday high and low of Rs2,675.95 and Rs2,518.50 respectively.