Schaeffler India slips 4% after profit slumps 9.25% in Dec quarter

Stock of Schaeffler India sank 3.7 percent in trade after the motion technology company recorded a 9.25 percent on-year decline in consolidated profit.

The bottomline came in at Rs 209.6 crore for the quarter ended December 2024, impacted by weak operating numbers. Revenue from operations grew by 4.5 percent to Rs 1,875 crore compared to the year-ago period.

At 2.10pm, after recouping some losses, Schaeffler India shares were quoting Rs 3,020 on the NSE, lower by 1.4 percent from the previous session’s closing price.

The board has recommended a dividend of Rs 26 per share, marking a payout ratio of 45 percent.

In a filing with the bourses, the company said that margins were under pressure for the quarter due to adverse sales mix. The company’s total export volumes saw a slowdown as a result of the poor global demand condition.

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“New business wins in select sectors and a balanced business portfolio helped sustain performance for the quarter. Entering 2024 with an uptick from some of the market sectors, with committed efforts to leverage the market growth,” the company said.

Over the past six months, shares of the company have risen around 3 percent in trade, underperforming the frontline index Nifty 50 that has surged around 12 percent during the same time period.

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