The Hindu Business Line : SKF posts lower Q4 net

SKF India Ltd today informed that the company has posted a reduced net profit of Rs 10.24 crore for the quarter ended December 31, 2005, as against the previous corresponding Rs 15.70 crore.

Total income however increased to Rs 259.08 crore (Rs 169.37 crore for the year ago period).

For the year ended December 31, 2005, it posted a higher net profit of Rs 64.07 crore (Rs 56.61 crore) on a total income of Rs 816.01 crore (Rs 604.32 crore).

The board has recommended a dividend of 35 per cent on the paid up capital, the company's statement to BSE said.

Shares of SKF moved down by Rs 22.55 or 7.38 per cent to Rs 282.8 in Friday's trade on BSE. "While the business environment continues to be positive, the results for the quarter have been adversely affected due to expenses related to prior periods. Excluding the non-recurring items, the profit before tax of the present quarter would have been slightly above the third quarter PBT. As per the current outlook, we expect a continuous strong sales growth in 2006," the news release said quoting Mr Rakesh Makhija, Managing Director, SKF India Ltd.

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SKF posts lower Q4 net