(February 17, 2011)

Bimetal Bearings announced a substantial drop in standalone net profit for the quarter ended December 2010. During the quarter, the profit of the company declined 52.05% to Rs 12.34 million from Rs 25.73 million in the same quarter previous year.

Net sales for the quarter for the quarter rose 7.16% to Rs 342.57 million, while total income for the quarter rose 6.22% to Rs 350.36 million, when compared with the prior year period.

It posted earnings of Rs 3.23 a share during the quarter, registering 52.01% decline over prior year period.



Shares of the company declined Rs 1, or 0.4%, to trade at Rs 250.00. The total volume of shares traded was 665 at the BSE (3.51 p.m., Wednesday).

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