Financial Daily from THE HINDU group of publications
Tuesday, Feb 18, 2003
Financial Daily from THE HINDU group of publications Tuesday, Feb 18, 2003 |
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Corporate Results
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Bearings, Castings & Forgings Corporate - Financial Performance SKF Bearings net up 127.6 pc Our Bureau
MUMBAI, Feb. 17 SKF Bearings India Ltd has posted a net profit of Rs 20.42 crore for the year 2002, higher by 127.6 per cent over 2001. The company's profit was attributed to improvement in the two-wheeler market, better product mix and capital restructuring. Sales for the year increased to Rs 405.72 crore from Rs 357.3 crore in 2002. "The significant increase in sales was a result of a combination of factors including improved performance in the two-wheeler market as well as in the industries sector," according to the company's release. Introduction of new products and packaging solutions, improvements in its distribution network and focussed marketing efforts also helped the company's performance. Interest for the year fell to Rs 10.97 crore from Rs 20.32 crore in the earlier year.
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