SKF India Net Sales Crosses INR 24 Billion

SKF India net sales crosses INR 24 billion; FY11 revenues grow by 17% The Board of Directors of SKF India Limited, India's leading technology and solutions provider of bearings, seals and related products and services, today approved the Audited Financial Results for the year ended December 31, 2011 Financial Highlights Net Sales for the year 2011 is INR 24167 million showing a growth of 17% over the previous year. The Profit after Tax for the year 2011 amounted to INR 2085 million as compared to INR 1770 million in the previous year. Earning per share at the end of the year is Rs. 39.5 as compared to Rs. 33.6 in the previous year. The Board of Directors have recommended a dividend of 75% for the year 2011. Commenting on the occasion, Shishir Joshipura, Managing Director, SKF India Limited said, "It has been a challenging year for the economy. The rising input costs, rupee depreciation and high interest rates put pressure on margins. Under these circumstances the company recorded a steady performance for the year. We will continue our investment plans in accordance with the country's medium and long term growth outlook. SKF India Limited will continue to focus on providing value added and efficient solutions to customers to support their growth plans. " Source:bearing.com.cn