SKF India reports strong first quarter results

Resource from: From eBearing.com Likes:3005

Apr 28,2003

SKF Bearings India Ltd. (a 54%-owned subsidiary of SKF AB, Sweden) reported first quarter 2003 results, with sales and profits both coming in above expectations. First quarter sales were Rs 1.09 billion (USD 23.0 million), up more than 12% from 2002's first quarter sales of Rs 974 million ($20.6 million). Net profit, however, went up by more than 193%, to Rs 50 million from Rs 17 million. SKF credited the leveraged jump in profits to its ongoing dual focus on cost-cutting initiatives and the introduction of new, higher-margin, higher value-added products. SKF is the dominant bearing vendor in the Indian marketplace, controlling at least 30% of the country's total market and several specific sectors such as the fast-growing two-wheeler market. 60% of its sales are to original equipment manufacturers and 40% to the more profitable replacement parts aftermarket. The Bombay Stock Exchange (BSE) reported SKF shares have risen more than 7% lately, from Rs 42 to over Rs 45.

(From eBearing.com)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Bearing Conference 2003 a success, despite multiple challenges
Next Breakthrough Shimano magnetic wheel bearings unlikely

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.