SKF India registers Sales of INR 5,915 million in Q3 2015

The Board of Directors of SKF India Limited has approved the unaudited financial results for the third quarter and nine months ended September 30, 2015.

The financial highlights are as given below:

• Net Sales for the third quarter ended September 30 2015 amounted to INR 5915million
• The Profit before tax for the third quarter ended September 30 2015 amounted to INR 767 million registering a growth of 8.2% compared to the immediately preceding quarter.

Commenting on the occasion, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said, “The challenges in the market remained unaltered with persisting liquidity crunch and depressed demand. Under 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 economy. We remain optimistic that this convergence will develop into a positive growth platform in near to mid-term.”