SKF India down 7.38% on weak Q4 results

DALAL STREET SPIKES

SKF India lost 7.38 per cent to Rs 282.8 from Rs 305.35 after the company registered a fall in net profit for the December quarter. 1.6 lakh shares were exchanged on BSE.

The company's net profit declined 8.7 per cent to Rs 14.32 crore from Rs 15.70 crore during the quarter. The company said Rs 10.23 crore worth of traded goods sold in previous quarters was included under the head of expenditure `consumption of raw materials and components' for the quarter.

Net sales rose 52.6 per cent to Rs 249.10 crore from Rs 163.19 crore. Other income surged 48 per cent to Rs 9.98 crore from Rs 6.73 crore. The scrip had gained 11.25 per cent from Rs 274.45 on February 6, to yesterday's Rs 305.35 before Friday's downslide.