Pune February 16, 2023:Schaeffler India Limited has reported a positive financial performance for the fourth quarter and full year ended December 31, 2022. The company's total revenue from operations (net) for the fourth quarter was INR 17,947 million, which is 17.8% higher than the corresponding quarter of 2021 and 2.2% higher than the preceding quarter (Q3 CY2022). The PBT (before exceptional items) for the quarter was INR 3,096 million, 20.5% higher than the corresponding quarter of 2021, and the net profit for the quarter was INR 2,310 million.
For the full year, Schaeffler India Limited's total revenue from operations (net) was INR 68,674 million, higher by 23.5% than the corresponding period of 2021. The PBT (before exceptional items) for the year was INR 11,621 million, higher by 37.8% than the corresponding period of 2021, and the net profit for the year was INR 8,792 million.
The Board of Directors of the company has recommended a dividend for the year ended December 31, 2022, at the rate of INR 24 per equity share of face value INR 2 each.
Mr. Harsha Kadam, Managing Director, expressed his satisfaction with the company's quarterly and annual results, which were driven by favourable sales mix, sustainable countermeasures, operational efficiency, customer-centricity, innovation, and agility. He also expressed his commitment to enhancing stakeholder value in 2023 and thanked all stakeholders for their support.
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