Schaeffler India Q1 Profit Up 7% to Rs 253.5 Cr

Mumbai, Jul 23 (PTI) German auto parts maker Schaeffler India on Tuesday posted a 7 per cent increase in standalone profit after tax at Rs 253.54 crore in the June quarter.

The company posted a PAT of Rs 237.28 crore in the year-ago period, the company said in a regulatory filing.

The revenue from operations for the quarter stood at Rs 2,071.93 crore, up 13 per cent from Rs 1,829.14 crore a year ago, it said.

"Progressing further into 2024, growth accelerated for our domestic business and momentum was sustained for intercompany exports. Margins were backed by the broad-based performance across businesses and focused approach on cost management," said Harsha Kadam, Managing Director and Chief Executive Officer, Schaeffler India.

He said the company remains committed to delivering on its financial and operating metrics while creating long-term value for its stakeholders with its environment, social and governance framework.