Schaeffler India Limited Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
July 26, 2018 at 06:30 am EDT
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Schaeffler India Limited reported unaudited earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total income (net) for the quarter increased to INR 5,437 million, higher by 14.5% than the corresponding quarter of 2017. EBT for the quarter grew by 12.9% to INR 945 million compared to the corresponding quarter of 2017. Profit before exceptional items and tax was INR 945.5 million against INR 837.4 million a year ago. Profit was INR 612.5 million or INR 36.9 per basic and diluted share against INR 539.8 million or INR 32.5 per basic and diluted share a year ago.
For the six months, the company reported total income (net) for the 6-month period increased to INR 10,878 million, higher by 14.3% than the corresponding period of 2017. EBT grew by 13.4% to INR 1,927 million compared to the corresponding period of 2017. Profit before exceptional items and tax was INR 1,926.8 million against INR 1,698.9 million a year ago. Profit was INR 1,272.9 million or INR 76.6 per basic and diluted share against INR 1,114.6 million or INR 67.1 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.