A B C Bearings reported a steep drop in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company declined 28.13% to Rs 20.64 million from Rs 28.72 million in the same quarter last year.

Net sales for the quarter rose 5.72% to Rs 392.64 million, while total income for the quarter rose 6.53% to Rs 400.46 million, when compared with the prior year period.

The company posted earnings of Rs 1.79 a share during the quarter, registering 28.11% decline over prior year period.




A B C Bearings produces tapers, cylindrical rollers and ball thrust bearings that are consumed by industries such as automobile to reduce friction between moving parts.

Shares of the company declined Rs 0.75, or 1.61%, to trade at Rs 46. The total volume of shares traded was 216 at the BSE (11.56 a.m., Wednesday).

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