Fag Bearings India Ltd. Reports Earnings Results for the Third Quarter Ended September 30, 2019
October 21, 2019 at 08:03 am EDT
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Fag Bearings India Ltd. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced total revenue was INR 10,481 million compared to INR 12,085.2 million a year ago. Net income was INR 944.3 million compared to INR 906.6 million a year ago. Basic earnings per share was INR 30.2 compared to INR 29 a year ago. For the nine months, total revenue was INR 33,667.2 million compared to INR 34,394.8 million a year ago. Net income was INR 2,830.9 million compared to INR 3,126.5 million a year ago. Basic earnings per share was INR 90.6 compared to INR 100 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.
SCHAEFFLER INDIA LIMITED 
