(October 21, 2010)
Net Sales for the third quarter ended September 2010 amounted to Rs. 5267 million registering a growth of 28% over the corresponding quarter of the previous year
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 third quarter and nine months ended September 30, 2010.
The financial highlights are as given below:
§Net Sales for the third quarter ended September 2010 amounted to Rs. 5267 million registering a growth of 28% over the corresponding quarter of the previous year.
§The Profit after tax for the quarter ended September 2010 amounted to Rs. 411 Million showing a growth of 32% over the corresponding quarter of the previous year.
§Net Sales for the first nine months ended September 2010 amounted to Rs. 15,321 million registering a growth of 38% over the corresponding period of the previous year.
§The Profit after tax for the nine months ended September 2010 amounted to Rs. 1331 Million registering a growth of 110% over the corresponding period of the previous year.
§Earnings per share for the first nine months (not annualized) Rs. 25.2 as compared to Rs. 12.0 for the corresponding period of the previous year.
Commenting on the occasion, Shishir Joshipura, Managing Director said “Our sales continued to develop positively across sectors during the quarter and were significantly higher compared to the same quarter last year. All businesses performed well in the current environment, by creating value for our customers and adding to our existing portfolio of products. We expect our sales to continue to develop positively in the fourth quarter.”
Other News:
SKF India Q3 PAT up 32%
Kaydon® Expands Thin Section Bearing Manufacture
NSK Enhances Operations to Drive Customer Performance
Asian Demand Boosts Profit at US Manufacturers
Kaydon Announces Joint Sales Initiative
SKF India Q2 Net Jumps 32 pc to Rs 41 cr
Timken to Increase Prices on Special Bar Quality Products
Looking for cooperation of building spherical roller bearing plant in India
