SKF India Q3 profit up 3%

Net sales of the company up by 6% to Rs 566 cr

SKF India Ltd, a provider of technology and solutions for bearings, seals, lubrication systems, mechatronics and services, has posted a net profit of Rs 46.58 crore which is up by 3 per cent as compared to corresponding quarter of the previous year, ended September 30, the company posted a net profit of Rs 45.26 crore during the same period of previous year.

Net sales of the company are up by 6 per cent  to Rs 566 crore for the second quarter, as against Rs 533.68 crore during the same period of last year, SKF India said in a filing to the BSE.

Commenting on the occasion, Shishir Joshipura, managing director, SKF India said, "The economic headwinds continued to have the slowing down effect across the sectors. The sharp depreciation of rupee combined with high inflation and tight liquidity continued to weigh on market sentiments. Continuing with our efforts of forging deeper ties with existing customers, enabled us to deliver a steady and improved performance while consolidating our leadership position."