Schaeffler India slips over 3.50% after motion equipment manufacturer reports weak Q3 operational results

Schaeffler India Share Price: Schaeffler India slipped by 3.69 per cent on BSE on Monday (February 19, 2024) from its previous close after the motion and mobility equipment manufacturer reported weak December quarter results.

Schaeffler India shares traded lower by 0.89 per cent, or Rs 27.25, at Rs 3035.00, at 12:04 pm on Monday.

The stock that closed at Rs 3062.25 on Friday started the trading session on Monday at Rs 3052.00. It slipped to the day's low of Rs 2951.00.  

Schaeffler India Q3 Results  

The company reported a consolidated deficit of 9.1 per cent to Rs 210 crore in the December quarter compared to Rs 231 crore Year-on-Year (YoY).  

Its revenue from operations in the quarter under review jumped by 4.4 per cent to Rs 1875 crore in Q3 against Rs 1795 crore a year ago.

Schaeffler India's EBITDA slipped by 6.08 per cent to Rs 324 crore in the December quarter against Rs 345 crore in Q3 FY23. 

The company's margin also slid to 17.2 per cent in Q3 from 19.2 per cent in the year-ago period.

Schaeffler India's Interim Dividend

The company also announced an interim dividend of Rs 26 per equity share.