SKF India Q3 net sales at Rs 566 crore

PUNE: SKF India reported net sales of Rs 566 cr for the quarter ended 30th September 2013, 6% higher than the corresponding quarter last year. Net profit for the same period was marginally higher at 2.91% at Rs 45.58cr as compared to Rs 45.26 cr in the corresponding quarter in 2012.

Shishir Joshipura, Managing Director, SKF India said, “The economic headwinds continued to have the slowing down effect across the sectors. The sharp depreciation of rupee combined with high inflation and tight liquidity continued to weigh on market sentiments.

Continuing with our efforts of forging deeper ties with existing customers and reaching out to new customers with a focus on enhancing delivered value enabled us to deliver a steady and improved performance while consolidating our leadership position.” The company is India’s leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services.

The company has 6 manufacturing locations in India.