Schaffer India's Q4 Net Profit Jumps 4% to Rs. 228 Crore

Schaffer India reported a 3.8% rise in net profit to Rs 227.7 crore in Q1 2024, driven by higher revenue of Rs 1,849.2 crore, up from Rs 1,693.6 crore in Q1 2023. Despite seasonal factors, margins remained stable. Managing Director Harsha Kadam expressed cautious optimism amid macroeconomic challenges.

Schaffer India on Thursday reported a 3.8 per cent year-on-year rise in net profit at Rs 227.7 crore in the January-March quarter of 2024.

The company had posted a net profit of Rs 219.4 crore during the same period a year ago.

Schaffer India follows the January-December period as the financial year.

Revenue from operations during the reporting quarter stood at Rs 1,849.2 crore as compared to Rs 1,693.6 crore in the corresponding quarter of 2023, Schaeffler India said.

Harsha Kadam, Managing Director, said, ''Year 2024 started well for us as we registered a strong YoY growth in our domestic business. Margins for the quarter remained resilient despite seasonality in some of our sectors...

''With a good rebound in our intercompany exports for the quarter, we remain cautiously optimistic of the challenging and volatile macroeconomic environment,'' he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)