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Published on 28/10/2020 5:43:50 PM | Source: Dion Global Solutions Ltd

Schaeffler India Q3 net profit up 20.16% at Rs 113.47 cr

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The company reported standalone net profit of Rs 113.47 crore for the quarter ended September 30, 2020 as compared to Rs 94.43 crore in the same period last year, registering a year-on-year growth of 20.16 per cent.

Net revenue of the company rose moderately by 8.26 per cent at Rs 1,120.65 crore in July-September quarter of this fiscal as against Rs 1,035.17 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 4.34 per cent to Rs 931.05 crore from Rs 892.34 crore in year ago period. Other Income dipped by 2.40 per cent at Rs 12.62 crore versus (Sep'19 Rs 12.93 crore).

Operating Profit surged by 32.75 per cent to Rs 189.60 crore as against Rs 142.83 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 22.61 per cent in September quarter.

Interest grew by 111.63 per cent y-o-y to Rs 0.91 crore, while Taxation increased by 87.63 per cent at Rs 39.27 crore (Sep'19 Rs 20.93 crore).