Schaeffler India Limited announced that the Board of Directors approved the results for the first quarter ended March 31, 2018. From January to March 2018 the total income (net) for the quarter increased to Rs 5,458 million, higher by 14.5 per cent than the corresponding quarter of 2017.
EBT for the quarter increased to Rs 981 million at 18 per cent to total income (net) which is in line with the corresponding quarter of 2017.
Further to the merger scheme announced in August by the BoD of INA Bearings India Pvt Limited, LuK India Pvt Limited and Schaeffler India Limited, Schaeffler India Limited also published the consolidated results on a pro-forma basis for the three companies. On a pro-forma basis, the quarterly (January to March 2018) consolidated total income (net) stood at Rs 11,130 million, higher by 16.5 per cent compared to the corresponding period of 2017.