SKF India Q3 net jumps 32% to Rs 41 cr

Bearings-maker SKF India today said its net profit grew 32.31 per cent to Rs 41.07 crore in the third quarter ended September 30, 2010.

The company had reported a net profit of Rs 31.04 crore in the September quarter of the previous fiscal, SKF India said in a filing to the Bombay Stock Exchange (BSE).

Total income of the company rose to Rs 533.82 crore during the quarter under review from Rs 417.96 crore in the same period of the previous year, it said.

For the nine-month period ended September 30, 2010, the company's net profit increased to Rs 133.10 crore from Rs 63.22 crore in the same period last year, it said.

Total income of the firm jumped to Rs 1,546.81 crore in the January-September period from Rs 1,115.37 crore in the same period last fiscal.

Meanwhile, the board of directors, which held a meeting on Thursday, has appointed Tore Bertilsson as a director with effect from October 21, it said.

The board has also accepted the resignation of G Donato from directorship, it added.

Shares of the company closed at Rs 580.90 on the BSE today, down 0.38 per cent from the previous close.