Chennai: Leading industrial and automotive supplier, Schaeffler India Ltd has announced its fourth quarter (Q4) and full year results for the period ended 31 December, 2018.
The firm’s total revenue from operations (net) for the quarter was Rs 1,186.3 crore, higher by 16.1 per cent than the corresponding quarter of 2017. The profit before tax (PBT) (before exceptional items) for the quarter was Rs 156.9 crore, in line with the corresponding quarter of 2017.
Total revenue from operations (net) for the full year increased to Rs 4,561.5 crore, higher by 16 per cent than the corresponding period of 2017. The PBT (before exceptional items) for the period increased to Rs 674.9 crore, higher by 13.7 per cent.
MD, Schaeffler India, Dharmesh Arora, said, “The automotive sectors of two wheelers, passenger cars and commercial vehicles showed decline in the last quarter of 2018. 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. For the whole year, we were largely able to manage increased steel prices and hikes in import duties to deliver PBT increase of 13.7 per cent.”