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Hot Pursuit News

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(24 Jul 2024, 12:19)

Schaeffler India spurts after Q2 PAT rises 6% YoY to Rs 253 cr

Schaeffler India rallied 6.01% to Rs 4,130.10 after the company reported 6.82% increase in standalone net profit to Rs 253.54 crore in Q2 CY24 as against Rs 237.2 crore posted in Q2 CY23.


Revenue from operations jumped 13.27% year on year (YoY) to Rs 2,071.9 crore in Q2 CY24.

Net profit margin declined to 12.2% in the quarter ended 30 June 2024 as compared to 13% posted in Q2 CY23.

PBT (before exceptional items) was at Rs 339.90 crore in Q2 CY24, up 6.87% as against with Rs 318.04 crore posted in Q2 CY23. PBT margin for the quarter stood at 16.4% in Q2 CY24 as compared with 17.4% posted in the corresponding quarter previous year.

Total expenses grew by 13.98% year on year to Rs 1,757.6 crore during the quarter. Cost of materials consumed stood at Rs 850.10 crore (up 7.80% YoY) and employee benefits expense was at Rs 143.85 crore (up 21.43% YoY).

EBITDA stood at Rs 384.8 crore in Q2 CY24 as compared with Rs 348 crore in Q2 CY23. EBITDA margin contracted to Rs...

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