SKF India's Q3 Net Sales up 9.2% at Rs 412.8 cr

Resource from: CBCC Likes:2941

Oct 30,2009

SKF India Limited registered net sales of Rs.4,128 million for the third quarter ended September 2009, a growth of 9.2% over the immediately preceding quarter ending on June 2009 of the current year. The Profit after tax for the third quarter ended September 2009 amounted to Rs.310 Million, a growth of 75% over Q2 2009. "The economic revival seen during the previous quarter has maintained its momentum in the current quarter and we hope that this trend will continue in the remaining fiscal period," said Mr. Rakesh Makhija, Managing Director, SKF India Ltd. "The automotive sector including two and three-wheeler has shown strong signs of recovery. Some of the industrial segments are also showing signs of revival. Going forward we are optimistic that the thrust on higher spending on infrastructure and stimulus packages announced by the government will revive consumer and investment demand. Our focus on 3Cs – Customer, cost and Cash has helped us become lean and agile. We hope to carry this momentum forward as the economy gets into the growth mode," he said. The company's net sales in Q3 2009 were 4.1% lower than the corresponding quarter of the previous year. It's Profit after tax for the third quarter ended September 2009 amounted to Rs.310 Million as compared to Rs 370 million in the corresponding quarter of the previous year. The Profit before tax for the third quarter ended September 2009 amounted to Rs.467 Million registering a growth of 72.3% over the immediately preceding quarter of the current financial year, though lower by 17.1% compared to the corresponding quarter of the previous year.

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