Schaeffler India profit up by 3 pct in Dec quarter to Rs 107 cr
Auto component maker Schaeffler India Wednesday reported a 3 per cent increase in net profit at Rs 107.15 crore for the fourth quarter ended December 31, 2018. The company, which follows January-December financial year, had posted a net profit of Rs 103.95 crore in the corresponding period of the last fiscal, Schaeffler India said in a regulatory filing.
Total income during the period under review stood at Rs 1,212.83 crore as against Rs 1038.02 crore in the year-ago period, it said. The automotive sectors of two-wheelers, passenger cars and commercial vehicles showed a decline in the last quarter of 2018, Schaeffler India Managing Director Dharmesh Arora said.
"Despite this development, Schaeffler delivered growth due to business presence across industrial sectors, which continued to show strong growth. While we maintained the growth momentum, an adverse mix impacted Q4 earnings quality," he added. For the full fiscal, the company said its net profit stood at Rs 419.8 crore as compared to Rs 388.49 crore in the previous financial year. Total income for the year stood at Rs 4,652.31 crore as against Rs 4,159.2 crore in the previous year.
(With inputs from agencies.)
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