SKF Q3 net profit dips 14% to Rs 50 crore
Bearings maker SKF India today reported 14.06 per cent decline in its net profit at Rs 50.04 crore for the second quarter ended September 30.
By PTI | Updated:
NEW DELHI: Bearings maker SKF India today reported 14.06 per cent decline in its net profit at Rs 50.04 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 58.65 crore during the same period of previous fiscal.
Net sales of the company also declined to Rs 591.54 crore during the second quarter, as against Rs 603.80 crore during the same period of previous fiscal, SKF India said in a statement.
Commenting on the result, SKF India Managing Director and Country Head, Shishir Joshipura said the challenges in the market remained unaltered with persisting liquidity crunch and depressed demand.
"Under this situation, SKF has continued to work closely with customers to find innovative solutions to enhance our offered value," he added.
SKF India shares today ended 0.08 per cent down at Rs 1,257.55 apiece on the BSE.
The company had posted a net profit of Rs 58.65 crore during the same period of previous fiscal.
Net sales of the company also declined to Rs 591.54 crore during the second quarter, as against Rs 603.80 crore during the same period of previous fiscal, SKF India said in a statement.
Commenting on the result, SKF India Managing Director and Country Head, Shishir Joshipura said the challenges in the market remained unaltered with persisting liquidity crunch and depressed demand.
"Under this situation, SKF has continued to work closely with customers to find innovative solutions to enhance our offered value," he added.
SKF India shares today ended 0.08 per cent down at Rs 1,257.55 apiece on the BSE.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
SKF India to invest ₹653 cr in new Pune plantADVERTISEMENT
