SKF India registers 8.9 % growth in Sales at 7074.2 million in Q3 2016-17

2017 February 15, 10:00 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 third quarter and nine months ended December 31, 2016.

Financial Highlights

  • Net Sales for the third quarter ended December 2016 amounted to INR 7074.2 million registering a growth of 8.9% compared to the corresponding quarter of the previous year and 0.3% as compared to the immediately preceding quarter
  • The Profit after tax for the third quarter ended December 2016 amounted to INR 653.4 million registering a growth of 16.1% over the corresponding quarter of the previous year
Commenting on the occasion, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said “The results for the quarter reflect the positive effect of several initiatives rolled out by the company to consolidate leadership position in market; even as this quarter’s economic activity was significantly impacted by demonetization. The economic activity is expected to recover in near term and we expect conducive development in economic environment to drive the momentum. The Board has approved a buy-back of shares at a price of INR 1500 per share, for an aggregate amount not exceeding INR 3900 million, pending shareholder and regulatory approval.”

For further information, please contact:
Vijay Chaudhury: 020 66112250,
Bibhabaree Biswal: 020 66112641,

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.

SKF logo