Profit for the quarter stands at INR 467 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 second quarter ended June 30th 2012.
The financial highlights are as given below:
Net Sales for the second quarter ended June 2012 amounted to INR 5767 million registering a decline of 3% over the corresponding quarter of the previous year.
The Profit after tax for the quarter ended June 2012 amounted to INR 467 million showing a decline of 9% over the corresponding quarter of the previous year.
Earnings per share for the second quarter of the current year (not annualized) is Rs 8.9 as compared to Rs 9.8 for the corresponding period of the previous year.
Commenting on the occasion, Mr. Shishir Joshipura, Managing Director, SKF India said “Second quarter continued to show moderation in demand across the sectors due to challenging economic environment resulting in lower economic activity. However, we remain cautiously optimistic about the growth opportunities in the medium to long term even as near term outlook remains challenging.
Source: SKF India