Shares of Schaeffler India gained on Wednesday, April 30, after the company reported its fourth consecutive quarter of double-digit growth in the January to March period.Schaeffler India, which follows the calendar year, reported its first quarter earnings after market hours on Tuesday, April 29.
All segments of the company witnessed double-digit growth. It also reported growth in both, domestic and inter-company exports business.
The company’s revenue in the first quarter gained 16% to ₹2,174.4 crore from ₹1,873.1 crore in the previous year.Its net profit rose 14.5% to ₹251.6 crore for the first quarter from ₹219.7 crore in the year-ago period.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) was up 19% at ₹392.9 crore from ₹329.9 crore in the first quarter of the previous year.Its margin expanded to 18.2% from 17.6% in the first quarter of the previous year.Schaeffler India’s domestic business was up 12.7% and its exports were up 23.2% from the year-ago period.The company’s bearings and industrial solutions segments form 40% of its revenue, while automotive technologies forms 33%. Exports and vehicle lifetime solutions form 15% and 12% of the revenue, respectively.Shares of Schaeffler India Ltd gained 8.6% to hit an intraday high of ₹3,566 per share on Wednesday, April 30. The stock was up 3.88% at ₹3,410.3 apiece at 11.05 am.
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