Bearings maker SKF India Ltd on Wednesday reported a modest rise in quarterly net profit and said it was concerned about rising raw material prices.

For the Jan-March period, SKF India reported a net profit of 377.6 million rupees, up 3 percent from 366.6 million rupees a year ago.

Net sales rose 9 percent to 3,921.0 million rupees.

"Raw material prices and availability are a concern and we are addressing this as a priority," SKF Managing Director Rakesh Makhija said in a statement.

Shares of SKF India were down more than 1 percent at 305.50 in the Mumbai market.

Other News:
Timken to Announce Quarterly Results April 30
SKF India Jan-March Net Rises Marginally
Lubricant-free Bearings Protect Environment
Pacific Bearing Company Introduces PL Series Actuators
Annual General Meeting of AB SKF
Kaydon Q1 Earnings Fall on Higher Costs
Minebea Acquires International Laboratory Accreditation for All Six RoHS Substances
SKF Solving the Housing Problem (Pic)