NRB Bearings Q2FY08 Net Sales at Rs 78.20cr Up by 7%

NRB Bearings Q2FY08 Net Sales at Rs 78.20cr Up by 7% NRB Bearings Limited, manufacturers of the widest range of bearings and automotive components, has reported a 7.12% increase in turnover at Rs.78.20 Crores for the second quarter ended September 30, 2007 as compared to Rs.73 Crore in the corresponding quarter last year. Operating Profit (EBITDA) for Q2FY08 stood at Rs 15.47 Crore as compared to Rs 19.94 Crore posted in the same period last fiscal. Net Sales for the first-half of FY 2007-08 stood at Rs.158.76 Crore, up by 11.8% compared Rs.142.06 Crore, recorded in the same period of last fiscal. During the same period, Net Profit however marginally declined by 2.4% at Rs 17.95 Crore as against Rs 18.39 Crore during the first-half of FY 2006-07. Earnings per Share (EPS) for the half year 07-08 stood at Rs 3.70 is almost flat compared to Rs 3.79 recorded in same period of last fiscal. Ms. Harshbeena Zaveri, President of NRB Bearings Ltd., said despite a continued sluggish growth in the first half in heelers and commercial vehicle sales numbers we were able to grow 11% by focusing on other segments and exports. We will continue to focus on growth with automotive OEM customers in India and overseas and on waste elimination measures to maintain profitability at levels achieved in the last fiscal SNL Bearings, a subsidiary of the company continues to show an improved performance and has made a net profit of Rs. 77 lacs during the half year ended 30th September, 2007. In Q2FY08, the company made it to the Forbes List of Asian companies. The list focuses on companies with less than $1 billion in sales and companies which have recorded consistent growth in sales and profits over three years.