Automotive Axles Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 08, 2023 at 02:55 am EST
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Automotive Axles Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 5,844.11 million compared to INR 4,747.16 million a year ago. Revenue was INR 5,882.29 million compared to INR 4,759.07 million a year ago. Net income was INR 450.88 million compared to INR 301.33 million a year ago. Basic earnings per share from continuing operations was INR 29.84 compared to INR 19.94 a year ago.
For the six months, sales was INR 11,163.21 million compared to INR 9,749.12 million a year ago. Revenue was INR 11,223.88 million compared to INR 9,771.93 million a year ago. Net income was INR 829.13 million compared to INR 605.34 million a year ago. Basic earnings per share from continuing operations was INR 54.87 compared to INR 40.06 a year ago.
Automotive Axles Limited is an India-based company, which is primarily engaged in manufacturing of axles and brakes in Mysore, Rudrapur, and Jamshedpur. The Company operates through the segment of manufacturing and sale of automotive components. The Company manufactures drive axles, non-drive axles, front steer axles, off-highway axles, drum and disc brakes and suspension. It provides these products to the major domestic and global manufacturers of trucks and buses, such as light, medium and heavy commercial vehicles, military and off-highway vehicles and the aftermarket. The Company has a portfolio of auto components, and it also designs engineering modules or systems comprising gearing, integral brake to axle design, weight option designs and driver-operated differential locks. The Company has manufacturing facilities located at Mysuru (Karnataka), Rudrapur (Uttarakhand), Jamshedpur (Jharkhand) and Hosur (Tamil Nadu).
AUTOMOTIVE AXLES LIMITED 
