SKF India Q1 results: Co posts net profit at Rs 79 crore
Swedish auto and industrial component maker SKF India on Friday reported a net profit of Rs 79.12 crore for the June 2021 quarter. The company had posted a net loss of Rs 25 lakh in the corresponding quarter of the last financial year, SKF India said in a statement.
Its total income during April-June 2021 stood at Rs 699.94 crore, against Rs 316.51 crore recorded in the year-ago period.
April-June 2021 was a tough quarter for the economy due to the "catastrophic" second wave of COVID-19 in the country, the company's Managing Director Manish Bhatnagar said.
"While the quarter witnessed volatile price and availability challenges on steel and logistics, we have been disciplined in our approach to ensure that this inflationary impact is either eliminated or minimised to reduce the need for price increases to customers," said Bhatnagar.
SKF India continues to focus on putting its customers and employees first and exercise a strong cost discipline across business operations, he said.
"Our financial results, despite the challenges, are commendable with strong gains year-on-year.
"We delivered a 130 per cent revenue growth... This strong performance reflects the strong resilience and a winning spirit of our people," Bhatnagar said.
The COVID-19 response at SKF India Ltd is firmly focused on the well-being of both its employees and business, he said.
"We are doing everything we can to ensure the safety and health of all our employees, partners and other stakeholders," Bhatnagar added.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Next Robotunits Introduces Linear Motion System
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
