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SKF India Ltd, a provider of technology and solutions for bearings, seals, lubrication systems, mechatronics and services, has posted a net profit of Rs 46.7 crore in the second quarter ended June 30, representing a decline of nine per cent year-on-year. Net sales for the quarter under review stood at Rs 577 crore, a decline of three per cent over the corresponding quarter of the previous year. EPS for the quarter was Rs 8.9 compared with Rs 9.8. Mr Shishir Joshipura, Managing Director, said, “The second quarter continued to show moderation in demand across the sectors due to challenging economic environment resulting in lower economic activity. However, we remain cautiously optimistic about the growth opportunities in the medium to long term even as near term outlook remains challenging.”
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