Endurance’s net profits down in Q3

Consoliddated revenues fell by 7.3 percent

By Shahkar Abidi calendar 09 Feb 2022 Views icon5255 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Endurance’s net profits down in Q3

Endurance Technologies has reported that its consolidated revenues  fell by 7.3 percent to Rs 1896.6 crore during  Q3 of the current fiscal as compared to Rs 2,046.7 crore during the year-earlier period.

The company's net profit fell by nearly 50.2 percent to Rs 94.6 crore during Q3FY2022 as against Rs 190 crore registered  during corresponding period previous year, the company said in a regulatory filing. 

Aurangabad-based Endurance Technologies offers  a  diverse range products and has operations in India, Italy and Germany. In India, the company is a supplier of aluminium castings, suspensions, transmission and braking systems predominantly catering  to two and three-wheeler OEMs. On the other hand in Europe it supplies aluminium casting products for four-wheelers. Endurance Technologies has 28 plants, out of which 19 are in India, 3 in Germany and 6 in Italy. 

According to Anurang Jain, MD, Endurance Technologies, in terms of YoY change in  the number of two-wheelers sold by Indian OEMs, Q3 FY2022  saw a drop of l9.7 percent on account of headwinds in the form of weak rural demand and higher cost of ownership. In contrast to it, last year  post the lock-downs, the two-wheeler market saw a robust demand in Q3 FY2021 resulting from the pent-up demand and a strong preference for personal mobility. 

"During the quarter, we acquired 100 percent stake in Veicoli SrI, Italy which enables fleet operators to increase route efficiency, enhance safety, optimize maintenance activity and reduce fuel costs. These benefIts are derived by monitoring vehicle movement, engine parameters and driving habits on Veicoli’s software platform. Through this acquisition, we seek to expand our innovative solutions offerings in the mobility sector in Europe," said Jain.

RELATED ARTICLES
SKF India Shareholders Approve Demerger Plan

auther Arunima Pal calendar14 Jul 2025

By separating industrial operations into a distinct legal entity, SKF India expects to drive improved efficiency, it sai...

Permanent Magnets Ltd Sees 22% Drop in FY25 Profit Despite Revenue Growth

auther Arunima Pal calendar14 Jul 2025

The company is facing headwinds in the Electric Vehicle and domestic smart meter segments.

G.G. Automotive Gears Q1 Profit More Than Doubles in Q1FY26

auther Arunima Pal calendar14 Jul 2025

The company's board also approved issuing 4.90 lakh equity shares after converting an equal number of warrants.