Schaeffler India reports 12.1% growth in revenue in Q3 2024

Schaeffler India Ltd, reported revenue of Rs. 20,728 million, a 12.1% increase from to Q3 2023. Net profit for the quarter was Rs. 2,471 million with an 11.9% margin. Profit before tax reached Rs. 3,332 million in Q3 2024, marking a 5.5% increase from the same quarter last year. The PBT margin stood at 16.1%, compared to 17.1% in Q3 2023.

For the nine-month period ending September 2024, the company recorded revenue of Rs. 59,940 million, up 11.6% from the corresponding period in 2023. The nine-month PBT increased by 5.5% to Rs. 9,787 million, with a margin of 16.3%. Net profit for this period was Rs. 7,283 million, representing a 12.2% margin.

Managing Director and CEO Harsha Kadam noted that the company's domestic business maintained its growth trajectory in the second half of the year, with positive performance in both Automotive Technologies and Bearings & Industrial Solutions segments.

Schaeffler Group, a global motion technology company founded over 75 years ago, operates in 55 countries through 250 locations with 120,000 employees. The company produces bearing solutions, linear guidance systems, and offers repair and monitoring services. Its portfolio includes technologies for electric mobility, drive systems, chassis solutions, and renewable energy applications.