SKF India Q2 net profit up 18% at Rs 54 cr

Bearings maker SKF India today posted 18.02 per cent growth in net profit at Rs 54.14 crore for the second quarter ended June 30.
The company had posted net profit of Rs 45.87 crore in the year-ago period.
Net sales of SKF in Q2 rose to Rs 592.63 crore, from Rs 560.27 crore in the April-June period last year, SKF India Ltd said in a statement.
SKF India Managing Director Shishir Joshipura said that demand side of economy continues to face challenges of high inflation, delayed monsoon and global uncertainty amidst a changing sentiment of better future.
"Our focused efforts at improving operational efficiencies and forging deeper ties with our customers enabled us to deliver a steady performance, in a challenging business environment," he added.

The SKF India scrip close at Rs 1,073.20, down 2.70 per cent, on the BSE.