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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 quarter ended June 30, 2012, (Q2) representing a decline of 9 per cent year-on-year.
Net sales for the quarter under review stood at Rs 577 crore, a decline of 3 per cent over the corresponding quarter of the previous year. EPS for the quarter was Rs 8.9 as compared to Rs 9.8 for the same period of 2011.
Mr Shishir Joshipura, Managing Director, SKF India said, “The second quarter continued to show moderation in demand across sectors due to the challenging economic environment resulting in lower economic activity. However, we remain cautiously optimistic about growth opportunities in the medium to long-term even as near-term outlook remains challenging.”
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