Schaeffler India profit rises 32 pc to Rs 328 crore in October-December

Mumbai, Feb 24 (PTI) Schaeffler India, the Indian arm of German automotive component supplier, on Tuesday said its standalone net profit rose 32 per cent year-on-year to Rs 327.96 crore in the three months ending December.

Schaeffler India had delivered a standalone net profit of Rs 249.33 crore in the fourth quarter of 2024, according to a regulatory filing.

Revenue from operations in the quarter under review stood at Rs 2,643 crore, up 27 per cent from Rs 2,082.31 crore registered in Q4 CY24, the company said in the filing.

Schaeffler India follows the calendar year (January-December) for financial reporting.

"We continued our growth trajectory, aided by strong performance across our domestic and intercompany export business. Strong demand traction in the automotive industry riding on the back of the GST reforms in September and our continued trajectory of business wins in all our divisions, aided growth," Schaeffler India Managing Director and Chief Executive Officer Harsha Kadam said in a statement.

The company's strategic focus on localisation and capital efficiency contributed to enhancing its quality of earnings while navigating changes in the regulatory environment related to the implementation of new labour codes, he said.

"As we move forward, we remain steadfast in our commitment to executing our strategic priorities while maintaining a consistent approach to dividend payments, ensuring sustained long-term value for our shareholders," Kadam added. PTI IAS HVA