Fag Bearings India Ltd. Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
November 11, 2016 at 03:55 am EST
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Fag Bearings India Ltd. reported unaudited standalone earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net sales/income from operations (net of excise duty) of INR 468.93 million against INR 434.9 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 61.21 million against INR 62.8 million a year ago. Profit from ordinary activities before tax was INR 77.74 million against INR 77.55 million a year ago. Net profit for the period was INR 50.42 million against INR 50.6 million a year ago. Basic and diluted earnings per share before and after extraordinary item (not annualised) were INR 30.34 against INR 30.45 a year ago.
For the nine months, the company reported net sales/income from operations (net of excise duty) of INR 1,328.56 million against INR 1,268.93 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 173.25 million against INR 176.18 million a year ago. Profit from ordinary activities before tax was INR 221.02 million against INR 216.94 million a year ago. Net profit for the period was INR 138.12 million against INR 141.27 million a year ago. Basic and diluted earnings per share before and after extraordinary item (not annualised) were INR 83.10 against INR 85.00 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 Companyâs 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.