Comments
SKF India on Tuesday, said its profit after tax grew by 40 per cent at Rs 61 crore for the first quarter ended March 31, 2011, over the same period last year.
Its net sales for the January-March quarter amounted to Rs 628.1 crore, up 25 per cent over the corresponding quarter of the previous year, it said in a press release issued here.
Its earnings per share at the end of the first quarter (not annualised) is Rs 11.6 as compared to Rs 8.3 for the corresponding quarter last year.
The company’s Board has also approved the sale of assets used in the business of textile machinery components. The turnover of the said business during 2010 was Rs 21.4 crore, the release said.
SKF India Managing Director Mr Shishir Joshipura said, “Our first quarter performance has registered a strong growth across the automotive and industrial sectors”.
“Capacity enhancement undertaken last year, coupled with ongoing capacity expansion within the existing facilities and manufacturing excellence programmes have helped us achieve volume growth and better operational efficiencies. We expect to grow in line with market growth and continue to build upon our leadership position,” he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.