Profits for the quarter stand at INR 453 million
The Board of Directors of SKF India Limited, India's leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, has approved the unaudited financial results for the third quarter ended September 30, 2012.
The financial highlights are as given below:
Sales for the 9 month period ending at September 30, 2012 stood at INR 16908 million while profits for the same period stood at INR 1579 million
Net Sales for the third quarter ended September 2012 amounted to INR 5337 million registering a decline of 11 % over the corresponding quarter of the previous year.
The Profit after tax for the quarter ended September 2012 amounted to INR 453 million showing a decline of 19% over the corresponding quarter of the previous year.
Earning per share for the third quarter of the current year (not annualized) is Rs 8.6 as compared to Rs 10.6 for the corresponding period of the previous year.
Commenting on the occasion, Mr. Shishir Joshipura, Managing Director, SKF India said, "While the prevailing macro economic environment continues to pose challenges for growth, across the entire spectrum of industry, we have focussed on working closely with our customers, and also to improve our internal processes, to align these to the external macro environment conditions".
About the company
SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group's service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. Annual sales in 2011 were SEK 66,216 million and the number of employees was 46039. www.skf.com
In India, the SKF Group started its trading operations in Kolkata in 1923. Since then, the group's operations have been consolidated into SKF India Ltd. SKF India Ltd also has associate companies called SKF Technologies (India) Pvt. Ltd. and Lincoln Helios (India) Ltd. providing Sealing solutions, Industrial bearings and Lubrication systems. The company has manufacturing plants in Bengaluru, Pune and Haridwar.
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