SKF India has posted a net profit of Rs 208 crore during the calendar year 2011, translating into a growth of 18 per cent year on year.
Income from operations for the year ended December 31, 2011 rose 17 per cent to stand at Rs 2,416 crore (Rs 2,068 crore) in the previous year.
Earnings per share at the end of the year were Rs.39.5 (Rs 33.6). The board has recommended a dividend of 75 per cent for 2011.
During the quarter ended December 31, 2011, the bearings company's net profit declined by 8 per cent over the corresponding period of 2010, to stand at Rs 40 crore. The incomes during the two quarters under review were Rs 600 crore and Rs 542 crore respectively, a rise of 10.7 per cent YoY.
Commenting on the results, Mr Shishir Joshipura, Managing Director, SKF India Ltd, said, “Rising input costs, rupee depreciation and high interest rates put pressure on margins,” adding that the company will continue investment plans in accordance with the country's medium and long-term growth outlook.