Schaeffler India Ltd announced the results of its third quarter and nine months which ended on September 30, 2020. The third quarter (July-September 2020) results show total revenue from operations (net) for the quarter (Q3) as ₹11,207 million, higher by 155.3% than the preceding quarter and 8.3%higher than the corresponding quarter of 2019.

Revenue from operations (Net) for the quarter, grew by 20.7% compared to Q1 2020 (pre lockdown period). PBT (before exceptional items) for the quarter (Q3) was ₹1,527 million, higher by 369.7% than the preceding quarter and 32.4% higher higher than the corresponding quarter of 2019. PBT (before exceptional items) for the quarter, grew by 38.7% compared to Q1 2020 (pre lockdown period). Net Profit margin for the quarter stood at 10.1%.

For the months of January to September, 2020 total revenue from operations (net) for the nine months period was ₹24,881 million, lower by 25.2%  than the corresponding period of 2019. PBT for the period was ₹2,062 million.

“We continue to witness green shoots of recovery, across various sectors as the economy starts to crawl back to normalcy. However, we are still not out of the woods. During the quarter, both our Automotive and Industrial segments have shown resounding performance, responding to strong demand from certain segments, especially the tractor, passenger vehicle, industrial distribution and wind sectors, ” said Harsha Kadam, Managing Director, Schaeffler India Ltd.

For more information: www.schaeffler.co.in