Automotive Axles Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 31, 2024 at 04:06 am EST
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Automotive Axles Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 5,413.32 million compared to INR 6,557.76 million a year ago. Revenue was INR 5,456.12 million compared to INR 6,571.29 million a year ago. Net income was INR 391.45 million compared to INR 506.83 million a year ago. Basic earnings per share from continuing operations was INR 25.9 compared to INR 33.54 a year ago. Diluted earnings per share from continuing operations was INR 25.9 compared to INR 33.54 a year ago.
For the nine months, sales was INR 16,576.53 million compared to INR 16,306.88 million a year ago. Revenue was INR 16,680 million compared to INR 16,343.22 million a year ago. Net income was INR 1,220.58 million compared to INR 1,112.15 million a year ago. Basic earnings per share from continuing operations was INR 80.77 compared to INR 73.59 a year ago. Diluted earnings per share from continuing operations was INR 80.77 compared to INR 73.59 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 
