NRB Bearings Q3FY07 Turnover at Rs 76.52cr up by 18.3%

NRB Bearings Q3FY07 Turnover At Rs 76.52cr Up By 18.3% NRB Bearings Limited, manufacturers of ball and roller bearings, has reported a 18.3% increase in turnover at Rs.76.52 crores for the third quarter ended December 31, 2006 as compared to Rs.64.70 crores in the corresponding quarter last year. Operating profit (before interest, depreciation and tax) increased by 16.4% to Rs.20.12 crores from Rs.17.29 crores in the same period last year. Meanwhile, Net Profit rose by 15.1% to Rs. 9.91 crores for the quarter as compared to Rs. 8.61 crore posted in the same period of last year. For the nine months ended December 31, 2006, turnover stood at Rs. 218.58 crores, up by 17.5% over corresponding nine months last year. Operating profit (before interest, depreciation and tax) for nine months increased by 18.3 % to Rs. 57.62 crores from Rs. 48.69 crores in the corresponding nine months last year. Net Profit rose by 9.1% to Rs.28.30 crore as compared to Rs. 25.95 crores posted in the corresponding nine months last year. Earnings per share for the first nine months of the year works out to Rs. 29.20 as against Rs. 26.77 unveiled in the first nine months of last fiscal. Ms. Harshbeena Zaveri, President of NRB Bearings Ltd., said our growth this quarter continues to be in line with our plans and going forward we are confident to end the fiscal on a strong note. Our focus continues to be our dedication for servicing our customers and the ability to deliver quality and value with consistency. The board also cleared the proposal to split the face value of the share from Rs. 10/- per share to Rs.2/- per share.