Schaeffler India jumped 4.88% to Rs 5435 after the company reported 78.1% jump in net profit to Rs 139.54 crore in Q1 March 2021 from Rs 78.35 crore in Q1 March 2020.
Net sales during the quarter increased by 41.8% year-on-year (YoY) to Rs 1,316.82 crore. Profit before tax (PBT) in the first quarter stood at Rs 185.97 crore, up 69% from Rs 110.07 crore reported in the same period last year.
Commenting on the results, Harsha Kadam, managing director, said, After a strong come back in the second half of 2020, we posted another strong quarter aided by the continued demand uptick and new business wins.
While the revenues during the quarter have been one of the best so far, rising commodity costs put pressure on margins, while we continue our focus on cost discipline.
Schaeffler India Limited announces Q1 results for the period ended March 31, 2021 equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Schaeffler India Q4 PAT up 67 pc at Rs 142 crore on inventory efficiency dividends ANI | Updated: Feb 17, 2021 15:12 IST
Pune (Maharashtra) [India], February 17 (ANI): Industrial and automotive supplier Schaeffler India has posted 67 per cent jump in its consolidated profit after tax for the December quarter at Rs 142 crore.
While the higher revenues did help profit through better absorption of fixed costs, the company said it also benefited from fine-tuned inventory policies that reduced funds locked up in working capital cycle.
Total revenues moved up by 23 per cent to Rs 1,274 crore. The mobility components vertical showed 25 per cent growth on year-on-year basis and 15 per cent growth on sequential basis.
Vadodara (Gujarat) [India], February 8 (ANI/NewsVoir): In line with its commitment to support community development, Schaeffler India, a leading industrial and automotive supplier, recently (Saturday, February 06, 2021) held an inaugural ceremony of the newly constructed Boys Hostel for Lok Vidyalaya school in Lamdapura village near Savli.
The objective behind this initiative, which is fully funded by Schaeffler India, is to provide a much safer and healthier educational environment to the underprivileged boys and to expand their overall educational opportunities. This is in line with their flagship CSR initiative HOPE and its vision of building a nation that is self-sustaining and prosperous by creating a pool of equal opportunities for young children.