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Home arrow News arrow Business News arrow SKF India registers 14% increase in Sales at Rs.5998 mn in Q3 2011
SKF India registers 14% increase in Sales at Rs.5998 mn in Q3 2011 Print E-mail
Written by Vijay   
Wednesday, 02 November 2011
Mumbai: SKF India Limited has registered net sales of Rs.5998 million, for the third quarter ended September 2011, a growth of 14% over the corresponding quarter of the previous year. The Board of Directors today approved the unaudited financial results for the third quarter.

"Our third quarter performance has shown steady growth against a very demanding economic scenario. High inflation, increasing input costs and a high interest rate regime continued to put pressure on performance," said Shishir Joshipura, Managing Director, SKF India.

The Profit after tax for the quarter ended September 2011 amounted to Rs 557 Million showing a growth of 35%% over the corresponding quarter of the previous year. Earnings per share for the first nine months of the current year (not annualized) is Rs. 31.9 as compared to Rs. 25.2 for the corresponding period of the previous year.

"The quarter saw continued moderation in demand in some sections of the automotive sector," he said.

"However, we remain positive about the sustained growth opportunities in the medium to long term even as near term outlook remains challenging. We will continue our focus on providing value added solutions to our customers to support our growth plans," he added.

 
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