Reuters
Auto components maker Schaeffler India reported an 8% rise in second-quarter profit on Friday, led by the demand for automotive products amid a nascent recovery in rural demand. Standalone profit for the Indian unit of Germany's Schaeffler AG was 2.33 billion rupees ($28.00 million) in the quarter ended Sept. 30, compared with 2.15 billion rupees a year earlier. The September rainfall made up for a deficit in the first half of the quarter, according to analysts, leading to a recovery in rural demand, particularly in sectors like two-wheelers.