Latest News | Schaeffler India Q3 Net Profit Rises 9 Pc to 235 Cr

Mumbai, Oct 27 (PTI) German auto parts maker Schaeffler India on Friday reported a 9 per cent growth in net profit to Rs 235 crore for the third quarter of 2023.

The company had posted a net profit of Rs 215.36 crore in the July-September period of 2022.

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Schaeffler India follows a calendar year for financial reporting.

Revenue from operations (net) for the quarter stood at Rs 1,848.30 crore, up 5.2 per cent from a topline of Rs 1,756.43 crore delivered in Q3 2022, the company said.

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"Continued focus across our domestic businesses, recovery in our key sectors and strategic initiatives to enhance our market position aided the performance. Our focus on operational efficiencies and stable input costs helped sustain the quality of earnings," its Managing Director Harsha Kadam said.

The company remains committed to focusing on performance to mitigate external headwinds, and deliver long-term value to all stakeholders, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)