Fag Bearings India Ltd. Reports Audited Standalone Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
February 14, 2017 at 05:54 am EST
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Fag Bearings India Ltd. reported audited standalone earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company's net sales/income from operation was INR 4,613.0 million against INR 4,388.3 million a year ago. Profit from operation before other income, finance cost and exceptional item was INR 587.0 million against INR 635.9 million a year ago. Profit from ordinary activities before tax was INR 774.3 million against INR 768.7 million a year ago. Net profit was INR 563.8 million or INR 33.93 per basic and diluted share against INR 562.1 million or INR 33.83 per basic and diluted share a year ago.
For the year, the company's net sales/income from operation was INR 17,898.6 million against INR 17,077.6 million a year ago. Profit from operation before other income, finance cost and exceptional item was INR 2,319.5 million against INR 2,397.7 million a year ago. Profit from ordinary activities before tax was INR 2,984.5 million against INR 2,938.1 million a year ago. Net profit was INR 1,945.0 million or INR 117.05 per basic and diluted share against INR 1,974.8 million or INR 118.84 per basic and diluted share a year ago.
Schaeffler India Limited is an India-based automotive and industrial component supplier. The Company provides components and systems for engine, transmission, and chassis applications for hybrid, electric, and combustion-engine-powered vehicles. The Company's segments include Automotive Technologies, Automotive Aftermarket, Industrial, and Exports & Others. The Automotive Technologies segment develops products using sustainable technologies for passenger and commercial vehicles, tractors, and off-highway segments. The Automotive Aftermarket provides data-driven services and plug-and-play solutions for transmission, engine, and chassis systems. It also includes three brands, such as LuK, INA and FAG. The Industrial segment offers a portfolio of bearing solutions, ranging from high-speed and high-precision bearings with small diameters, to large-size bearings, several meters wide. The Exports & Others segment includes exports to group companies and scrap sales.