The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, today approved the unaudited Financial Results for the first quarter ended June 30, 2016.
Financial Highlights
- Net Sales for the first quarter ended June 2016 amounted to INR 6955.8 million registering a growth of 7.3 % over the corresponding quarter of the previous year
- The Profit after tax for the first quarter ended June 2016 amounted to INR 604 million registering a growth of 29.8 % over the corresponding quarter of the previous year
Commenting on the occasion, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said “The economic environment has developed positively on the back of improved activity in core infrastructure sector. This turnaround is driven primarily by public investment and the activity level will further strengthen as private investment picks up. We have invested significant resources and efforts in building and delivering value to our customers in key segments of the economy. We will continue to leverage this positive momentum and an increasingly optimistic future driven by a steadily improving business sentiment.”