88 CR

SKF INDIA PROFIT RISES 3% AT `

SKF India, the wholly owned subsidiary of Swedish SKF has reported a net profit rise of 3 per cent at Rs 88.45 crore.

The company’s net sales also rose 10 per cent at Rs 767.65 crore, up from Rs 700.49 crore.

Ebitda stood at Rs 155.46 crore up 8.68 per cent from Rs 143 crore. “We have posted a steady financial performance in this quarter despite subdued demand in the automotive market and slowing industrial output,” Manish Bhatnagar, managing director at SKF India, said.

Despite these headwinds, the brand has delivered good results by focusing on its core competence in engineering and design as well as continuing to delight customers with our superior commercial excellence and digitalization initiatives, he pointed out. SKF India EPS has increased to Rs 17.20 from Rs 16.80.