SKF India registers Sales of INR 6955.8 million in Q1 2016-17
2016 July 20, 19:15 IST
The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, today approved the unaudited Financial Results for the first quarter ended June 30, 2016.
- Net Sales for the first quarter ended June 2016 amounted to INR 6955.8 million registering a growth of 7.3 % over the corresponding quarter of the previous year
- The Profit after tax for the first quarter ended June 2016 amounted to INR 604 million registering a growth of 29.8 % over the corresponding quarter of the previous year
Commenting on the occasion, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said “The economic environment has developed positively on the back of improved activity in core infrastructure sector. This turnaround is driven primarily by public investment and the activity level will further strengthen as private investment picks up. We have invested significant resources and efforts in building and delivering value to our customers in key segments of the economy. We will continue to leverage this positive momentum and an increasingly optimistic future driven by a steadily improving business sentiment.”
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 46 635.”
SKF Group started trading operations in India in Kolkata in 1923 and since then the Group's operations have been consolidated into SKF India Limited. SKF India also has associate companies called SKF Technologies (India) Pvt. Ltd, Lincoln Helios India Ltd, providing Seals and Lubrication systems. The company has manufacturing plants in Pune, Bangalore, Mysore and Haridwar. The company also has a Global Technical Center in Bengaluru.
® SKF is a registered trademark of the SKF Group.