Industrial and automotive supplier Schaeffler India reported solid earnings for the December quarter, sending the company’s shares higher on Friday.

Schaeffler India was trading 4.44% higher at Rs 2,955.55 on the National Stock Exchange at 10:31 am on February 17.

The company’s operating income rose 18% year-on-year to Rs 1,794 crore. This is attributed to solid performance across all its businesses, supported by an improved sales mix and smart capital spending.

Harsha Kadam, Managing Director of Schaeffler India, explained that the company’s momentum continued on the back of a favourable sales mix while emphasising the deployment of sustainable countermeasures to weather headwinds in a highly volatile environment.

On the operational front, Schaeffler India’s EBITDA margin expanded to 19.2% in October-December from 18.85% a year ago.

The company’s net profit also posted healthy growth, rising 21% to Rs 230 crore in the December quarter on the back of a robust top line and strong operating performance.

Kadam added that the company’s success over the past year had been driven by the successful trajectory of its business and its focus on operational efficiency.