Schaeffler India posts higher quarterly, lower yearly profits

Schaeffler India Limited, industrial and automotive supplier company, announced the results for the fourth quarter and full year, ended 31 December 2020.

October–December 2020 (Q4)

• Total revenue from operations (net) for the quarter (Q4) was Rs 12,738 million, higher by 13.7% than the preceding quarter and 22.9% higher than the corresponding quarter of 2019.
  
• Profit before tax (PBT) (before exceptional items) for the quarter (Q4) was Rs 1,911 million, higher by 25.1% than the preceding quarter and 53.9% higher than the corresponding quarter of 2019.
  
• Net profit margin for the quarter stood at 11.1%.

January–December 2020 (12 months)

• Total revenue from operations (net) for the 12 months period was Rs 37,619 million, lower by 13.7% than the corresponding period of 2019.
  
• PBT (before exceptional items) for the period was Rs 3,972 million, lower by 25.7%.
  
• Net profit margin for the year stood at 7.7%.

Schaeffler produces ball bearings, cylindrical roller bearings, spherical roller bearings and wheel bearings that are sold under the brand name of FAG.

Written from a company news release.

Image: Although 2020 results were lower than 2019, the company’s Q4 results show a positive trajectory.