Schaeffler India up 5.5%

Schaeffler India is right there among the top five gainers on the BSE, rising 5.5% to hit an intraday day high at Rs.2988 with 23,000 shares changing hands today morning alone vis-a-vis 2-week average of less than 5000 shares. Its 52-week high is at Rs.3968.75.

Then stock price rose after the company reported a 21% (YoY) rise in consolidated net profit at Rs.231 crore  on an 18% increase in revenue from operations at Rs.1795 crore for the December quarter. Company follows Jan-Dec year ending.

EBITDA was up 20% at Rs.345 crore while margins jumped up from 18.9% to 19.2%.

The company said that favourable sales mix and wins across the company's businesses and focus on operational efficiency.