SKF India Ltd.’s net sales for the first quarter ended March 2015, amounted to Rs. 5,790 million, registering a growth of 1.5 per cent over the corresponding quarter of the previous year. Profit before tax for the first quarter came to Rs. 779 million, showing a groth of 3.8 per cent.
Commenting on the company performance, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India, said: “The challenges in the economy remained unaltered pushing businesses to find optimized ways of working. The Government’s initiative to build infrastructure and push the ‘Make in India’ agenda should augur well for the future. Our performance is a result of our focused customer-centric approach amidst the volatility in the current economic environment, even as we remain cautiously optimistic of the future.”
SKF is 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. Annual sales in 2014 were SEK 70,975 million and the number of employees was 48,593.