The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, today approved the unaudited financial results for the quarter ended June 30, 2017.

The financial highlights are as given below:

Net Sales for the first quarter ended June 30, 2017 amounted to INR 7208.8 million as compared to Rs 7031.3 million in corresponding quarter of the previous year.
The Profit after tax for the period amounted to INR 642.7 million compared to Rs 604.0 million in the corresponding quarter of the previous year.
Commenting on the occasion, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said, “As the markets recovered from the after effects of the demonetization and prepared to usher in GST regime, the economic activity remained broadly unchanged from previous quarter. We remain confident that economy will start reflecting intended benefits of the new tax reforms supported by good monsoons and gradual but definite change in business paradigms led by digitalization.”
For further information, please contact:
Bibhabaree Biswal, +91 20 6611 2641; bibhabaree.biswal@skf.com

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in 130 countries with 108 manufacturing units and has around 17,000 distributor locations worldwide. Annual sales in 2016 were SEK 72787 million and the number of employees 45 000.”

SKF Group started trading operations in India in Kolkata in 1923 and since then the Group's operations have been consolidated into SKF India Limited. SKF India also has associate companies called SKF Technologies (India) Pvt. Ltd, Lincoln Helios India Ltd, providing Seals and Lubrication systems. The company has manufacturing plants in Pune, Bangalore, and Haridwar.