SKF India Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 08, 2023 at 09:51 am EST
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SKF India Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 11,252.1 million compared to INR 10,782.6 million a year ago. Revenue was INR 11,454.7 million compared to INR 10,884.2 million a year ago. Net income was INR 899.7 million compared to INR 1,558.3 million a year ago. Basic earnings per share from continuing operations was INR 18.2 compared to INR 31.5 a year ago. Diluted earnings per share from continuing operations was INR 18.2 compared to INR 31.5 a year ago.
For the six months, sales was INR 22,748.1 million compared to INR 21,330 million a year ago. Revenue was INR 23,176.1 million compared to INR 21,516.7 million a year ago. Net income was INR 2,443.9 million compared to INR 2,849.4 million a year ago. Basic earnings per share from continuing operations was INR 49.4 compared to INR 57.6 a year ago. Diluted earnings per share from continuing operations was INR 49.4 compared to INR 57.6 a year ago.
SKF India Limited is an India-based company that is primarily engaged in supplying products solutions and services within rolling bearings, seals, mechatronics, and lubrication systems. The Company operates through the Bearings segment. Its products include Rolling bearings, Mounted bearings and housings, Super-precision bearings, Slewing bearings, Plain bearings, Magnetic bearings and systems, Thin section bearings, Industrial seals, Automotive seals, Lubrication management, Maintenance Products, Condition monitoring systems and others. It serves various industries, including Aerospace, Agriculture, Automotive, Construction, Food and beverage, General machinery, Machine tools, Marine, Material handling and others. The Companyâs manufacturing facilities are located at Pune, Bangalore & Haridwar. Its manufacturing units in Pune, Bengaluru and Haridwar cater to automotive and industrial sectors near the industrial corridors of Northern and Peninsular India.