SKF India net profit up 25% at Rs 58.6 cr

Company's revenue up 7 per cent at Rs 613 crore

Bearing manufacturer SKF India reported increase of 25.7 per cent in its net profit at Rs  58.6 crore for the third quarter ended on September 30, 2014 as compared to Rs  46.6  crore last year.  Company’s  revenue also witnessed a increase of 7% at Rs  612.8 crore as compared to Rs  572.6 crore last quarter. Shishir Joshipura, managing director, SKF India said, “Domestic economic environment saw moderation in inflationary pressures and a near stable rupee amidst an uncertain demand recovery.”

The global business environment remained uncertain even as business optimism and confidence continues to improve in India. Our focused efforts at offering higher value added solutions and improving our engagement with our customers enabled us to deliver a steady performance, in a challenging business environment."