AgenciesShares of the company, a unit of Schaeffler AG, fell as much as 2.7%.
Schaeffler India said its profit climbed 6% to 2.19 billion rupees ($26.7 million) in the first quarter ended March 31, while revenue from operations rose 8% to 16.94 billion rupees.
However, its core profit margin contracted to 18.58% from 19.64% a year earlier, as expenses rose over 9%.
Revenue in the company's industrial segment, constituting nearly 32% of total revenue, fell 8.5% in the quarter.
The company said growth in its automotive business helped mitigate "external headwinds," but did not specify the challenges.
Schaeffler India had reported a nearly 21% rise in its fourth quarter profit
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