SKF India profit rises 4pc to Rs 51 cr in Jan-Mar qtr

Bearings maker SKF India today posted 4.35 per cent increase in net profit at Rs 51.24 crore for the quarter ended March 31, 2015.
The company, which follows January-December fiscal, had posted a net profit of Rs 49.10 crore during the same period of previous fiscal.
Net sales of the company rose to Rs 579.02 crore for the first quarter, compared to Rs 570.31 crore during the same period of previous year, SKF India said in a statement.
Commenting on the results, SKF India Managing Director and Country Head Shishir Joshipura said the challenges in the economy remained unaltered pushing businesses to find optimised ways of working.

"Our performance is a result of our focused customer centric approach amidst the volatility in the current economic environment, even as we remain cautiously optimistic of the future," he added.
SKF India shares today ended at Rs 1,424.60 apiece on the BSE, down 0.41 per cent from previous close.