SKF India Report First Quarter; Net Profit Growth 5%
2005 May 05, 13:39 CET
The Board of Directors, SKF India Limited, India’s leading bearings manufacturing and engineering services company, today approved the unaudited Financial Results for the first quarter ended March 31, 2005.
The financial highlights are given below in comparison to last year: -
- SKF India reports a profit before taxes for the first quarter 2005 of 228 million (191).
- Net profit for the first quarter amounted to Rs.140 million (134).
- Earnings per share for the first quarter were Rs.2.7 (3.0).
- Net sales for the first quarter amounted to Rs.1699 million (1311). This is a growth of 30% for the quarter.
“The rising input material costs, particularly on account of escalating steel prices have continued to put pressure on the operating margins. Our strong top line growth has been fuelled by the continued market development, both in the Industrial and Automotive segments” said Rakesh Makhija, Managing Director, SKF India Limited.
SKF in India is 8500 MINR Company and has three production facilities and employs over 2000 people. With an extensive and growing network of over 225 distributors across the country, the company enjoys a leading position in the market. The company offers integrated mechanical and engineering services, preventive and predictive maintenance, thereby enhancing the total life cycle of the customers’ assets and helps reduce their “total cost”. With its forward thinking approach, the organization has continuously maintained customer satisfaction by developing new high quality products and solutions.