SKF India Limited net profit rises to Rs. 378 Million

2008 April 24, 05:43 CET

SKF India Limited net profit rises to Rs. 378 Million

Sales increase to Rs. 3921 Million


The Board of Directors of SKF India Limited, India's leading technology and solutions provider of bearings, seals and related products and services, today approved the unaudited Financial Results for the first quarter ended March, 31, 2008.


The financial highlights in comparison to corresponding period are as given below:

  • Net Sales for the first quarter ended March 2008 rose to Rs. 3921 Million an increase of 9% over the corresponding period of last year.
  • The Profit before Tax for the first quarter ended March 31st, 2008 amounted to Rs. 579 Million as compared to Rs 574 million over the corresponding period of last year.
  • Net profit for the quarter ended March 31st, 2008 was Rs. 378 million showing a growth of 3% as compared to the last year.
  • Earnings per share at the end of first quarter (not annualized) is 7.2 as compared to 7.0 corresponding period of last year

Commenting on the occasion, Mr. Rakesh Makhija, Managing Director, SKF India Ltd, stated "Our Industrial Business continues to surge ahead in line with the growth in the manufacturing and capital goods sector. We are hopeful that the recent reduction in the excise duties for two wheelers and small cars will provide the necessary boost to the sector. Raw material prices and availability are a concern and we are addressing this on priority".

About SKF

"The SKF Group is the leading global supplier of products, solutions and services in the area comprising rolling bearings, seals, mechatronics, services and lubrications systems. The Group's service also includes technical support, maintenance services, condition monitoring and training. The SKF Group's efforts in the R&D area have resulted in numerous innovations that have created new standards and new products in the bearing world.

SKF is present in more than 130 countries, has some 120 manufacturing sites and sales companies supported by some 15 000 distributor locations that are serviced by an efficient global distribution network and a widely used e-business marketplace."

In India, the SKF Group started trading operations in Kolkata in 1923 and since then the Group's operations have been consolidated into SKF India Limited. SKF India also has an associate company called SKF Technologies (India) Pvt Ltd providing sealing solutions. The company has manufacturing plants in Bangalore and Pune.

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