The Board of Directors of SKF India have approved the Audited Financial Results for the year ended December 31, 2011
Net Sales for the year 2011 is INR 24167 million showing a growth of 17% over the previous year whereas, The Profit after Tax for the year 2011 amounted to INR 2085 million. Earning per share at the end of the year is Rs.39.5 as compared to Rs.33.6 in the previous year and the Board of Directors have recommended a dividend of 75% for the year 2011.
Shishir Joshipura, Managing Director, SKF India Limited said, "It has been a challenging year for the economy. The rising input costs, rupee depreciation and high interest rates put pressure on margins. Under these circumstances the company recorded a steady performance for the year. We will continue our investment plans in accordance with the country's medium and long term growth outlook. SKF India Limited will continue to focus on providing value added and efficient solutions to customers to support their growth plans."
