Timken India tumbled 4.01% to Rs 3,066.80 after the company reported net profit of Rs 70.60 crore in Q3 FY23, up 1.15% as against Rs 69.80 crore in Q3 FY22.
Revenue from operations rose 19.5% year on year to Rs 609.40 crore in the quarter ended 31 December 2022.Profit before tax rose marginally to Rs 95.20 crore in Q3 FY23 as against Rs 95 crore reported in Q3 FY22.
Total expense increased 26.52% to Rs 528.6 crore. Cost of material consumed rose 11.25% to Rs 215.6 crore while employee benefits expenses rose 21.16% to Rs 41.8 crore.
Timken India offers friction management solutions that maximize performance, fuel-efficiency and equipment life. It makes engineered bearings and allied goods & services.
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