Automotive Axles Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 16, 2023 at 08:57 am EDT
Share
Automotive Axles Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 6,930.13 million compared to INR 5,522.81 million a year ago. Revenue was INR 6,942.98 million compared to INR 5,527.23 million a year ago. Net income was INR 508.14 million compared to INR 388.44 million a year ago. Basic earnings per share from continuing operations was INR 33.62 compared to INR 25.7 a year ago.
For the full year, sales was INR 23,237.01 million compared to INR 14,906.19 million a year ago. Revenue was INR 23,286.2 million compared to INR 14,948.78 million a year ago. Net income was INR 1,620.29 million compared to INR 743.58 million a year ago. Basic earnings per share from continuing operations was INR 107.22 compared to INR 49.2 a year ago.
Automotive Axles Limited is an India-based company, which is primarily engaged in manufacturing of axles and brakes in Mysore, Rudrapur, and Jamshedpur. The Company operates through the segment of manufacturing and sale of automotive components. The Company manufactures drive axles, non-drive axles, front steer axles, off-highway axles, drum and disc brakes and suspension. It provides these products to the major domestic and global manufacturers of trucks and buses, such as light, medium and heavy commercial vehicles, military and off-highway vehicles and the aftermarket. The Company has a portfolio of auto components, and it also designs engineering modules or systems comprising gearing, integral brake to axle design, weight option designs and driver-operated differential locks. The Company has manufacturing facilities located at Mysuru (Karnataka), Rudrapur (Uttarakhand), Jamshedpur (Jharkhand) and Hosur (Tamil Nadu).
AUTOMOTIVE AXLES LIMITED 
