SKF India Q3 Earnings Surges 92.50%

SKF India Q3 Earnings Surges 92.50% Leading maker of bearings and seals, SKF India registered a phenomenal growth of 92.50% in net profit, for the quarter ended September 2007. During the quarter, the company witnessed a rise in net profit to Rs 431 million, from Rs 223.90 million in the same quarter of the previous year. While earnings per share jumped by 95.24% to Rs 8.20 in the quarter, compared with the corresponding a year earlier. Substantial rise in operating margins has paced the earnings growth. Operating margins in the quarter jumped by 624 basis points to 17.64% from 11.40% in the same quarter last year. The net sales for the quarter climbed 14.02% to Rs 3,869.80 million, while the total income for the quarter declined 13.98% to Rs 3,887.90 million, when compared with the corresponding quarter, a year ago. SKF India is a part of the SKF Group, the leading global supplier of rolling bearing and seals. Along with a varied range of products it also offers extensive solutions and services in the area. SKF also has an increasingly important position in the market for linear motion products, high precision bearings, spindles and spindle services for the machine tool industry, electrical actuators, and actuation systems and is an established producer of rolling bearing steel. SKF India delivers high end technical knowledge starting with self aligning ball bearing, spherical roller bearing, the hub bearing units that are widely used in cars and trucks wheel ends in addition to the new and latest revolutionary CARB bearings that find specialized application in steel plants & paper mills.