SKF India Has Approved The Unaudited Financial Results for The Second Quarter

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. About SKF SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group's service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15, 000 distributor locations worldwide. Annual sales in 2011 were SEK 66, 216 million and the number of employees was 46039. Www. Skf. Com In India, the SKF Group started its trading operations in Kolkata in 1923. Since then, the group's operations have been consolidated into SKF India Ltd. SKF India Ltd also has associate companies called SKF Technologies (India) Pvt. Ltd. And Lincoln Helios (India) Ltd. Providing Sealing solutions, Industrial bearings and Lubrication systems. The company has manufacturing plants in Bengaluru, Pune and Haridwar. Source:bearing