SKF India Q3 PAT falls 30% YoY to Rs 88.7 cr

SKF India reported a 30.7% decline in consolidated net profit to Rs 88.79 crore in Q3 FY22 from Rs 128.11 crore posted in Q3 FY21.

Net sales grew by 18.1% to Rs 966.98 crore in Q3 FY22 from Rs 818.7 crore registered in Q3 FY21. Profit before tax declined 29% to Rs 123.25 crore in Q3 FY22 over Q3 FY21.

Total expenditure spiked 32.2% to Rs 843.9 crore in Q3 FY22 from Rs 827.24 crore posted in Q3 FY21.

SKF India manufactures a wide range of ball and roller bearings, such as deep groove, taper roller and other types. Bearings are used by a number of industries, including the automotive, electrical, power generation, cement, steel, petrochemical and textile industries.

 

Shares of SKF India ended 0.61% lower at Rs 3,601.65 on Wednesday.

In last three months, the counter has declined 8.54% as compared to a 3.2% fall in benchmark Nifty 50 index.

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