Automotive Axles Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 31, 2024 at 04:06 am EST
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Automotive Axles Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 5,413.32 million compared to INR 6,557.76 million a year ago. Revenue was INR 5,456.12 million compared to INR 6,571.29 million a year ago. Net income was INR 391.45 million compared to INR 506.83 million a year ago. Basic earnings per share from continuing operations was INR 25.9 compared to INR 33.54 a year ago.
For the nine months, sales was INR 16,576.53 million compared to INR 16,306.88 million a year ago. Revenue was INR 16,680 million compared to INR 16,343.22 million a year ago. Net income was INR 1,220.58 million compared to INR 1,112.15 million a year ago. Basic earnings per share from continuing operations was INR 80.77 compared to INR 73.59 a year ago.
Automotive Axles Limited is an India-based company, which is primarily engaged in manufacturing of axles and brakes at Mysore, Rudrapur and Jamshedpur. The Company's products include drive axles, front steer axles, defense axles, off-highway axles, non-drive axles, drum brake and disc brake. It provides these products to the domestic and global manufacturers of trucks and buses pertaining to segments, such as light, medium and heavy commercial vehicles, military and off-highway vehicles, aftermarket and exports. The Company can provide a complete solution for all its customer needs in form of drive axles, brakes and suspension interfaces. Its full portfolio of axle and brake technology includes all wheel drive systems, high mobility independent suspensions, drivelines, transfer cases and suspension height control systems. Its non-drive axle products include tag axle and trailer axle. Its front steer axle products include FG945, FH941and FH946. Its disc brake product is ELSA 225.