The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems and services, today approved the unaudited financial results for the third quarter and nine months ended December 31, 2018.
The financial highlights are as given below:
- Net Sales for the third quarter ended December 31, 2018 amounted to INR 7677 million as compared to INR 7005 million for the third quarter of the previous year, registering a growth of 9.6%.
- Profit After Tax for the third quarter ended December 31, 2018 amounted to INR 885 million as compared to INR 862 million for the same quarter in the previous year, registering a growth of 2.7% .
Commenting on the occasion Mr. Manish Bhatnagar, Managing Director, SKF India said “We have posted a steady financial performance in this quarter despite subdued demand in the automotive market and slowing industrial output. Despite these headwinds, we delivered our results by focusing on our core competence in engineering and design as well as continuing to delight customers with our superior commercial excellence and digitalization initiatives.