On Thursday, Schaeffler India has climbed profit before tax after all exception 67 per cent yearly to Rs 285.73 crore in the second quarter compared with PBT margin for the quarter stood at 16.3 per cent to 13.8 per cent in last year. The total expense has jumped 39.1 per cent yearly to Rs 1427 crore after the first quarter. Also, the cost of raw materials was consumed at Rs 718.74 crore (up 32.2 per cent YOY), and employees expenses were at Rs 108.94 crore.

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Harsha Kadam, managing director, commented on the results and said, “We have progressed well in the first half of the year backed by our strong quarterly performance and are on course despite the ongoing global macroeconomic headwinds. Our diversified portfolio backs the growth momentum and steady business wins, which enabled register record revenues. Our focused approach on cost control and countermeasures result in resilient margins despite the continuing input cost pressure. This, coupled with our capital management and execution capability, has helped realise financial and operational metrics. We are cognizant of the dynamic yet challenging market conditions and striving to deliver continued performance while remaining committed to climate protection, society and corporate governance.”

Schaeffler India is the largest industrial and automotive supplier with three popular brands, LuK, INA and FAG, four manufacturing plants, and eight sales offices, which helps the company with a significant presence in India.