SKF India Ltd.’s net sales for the third quarter ended September 30, 2015, amounted to Rs. 5,915 million. Profit before tax was Rs. 767 million, registering a growth of 8.2 per cent compared to the immediately preceding quarter.
Commenting on the performance, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India, said: “The challenges in the market remained unaltered with the persisting liquidity crunch and depressed demand. In this situation SKF has continued to work closely with customers to find innovative solutions to enhance our offered value. The expectation and experience of economic growth are expected to converge in mid-term aided by the continued reforms and implementation of development programs in key sectors of the economy. We remain optimistic that this convergence will develop into a positive growth platform in near to mid-term.”
A leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide.