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SKF India registers Sales of INR 7209 million in Q1, 2017-18

The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, today approved the unaudited financial results for the quarter ended June 30, 2017.

The financial highlights are as given below:

·         Net Sales for the first quarter ended June 30, 2017 amounted to INR 7208.8 million as compared to Rs 7031.3 million in corresponding quarter of the previous year.
·         The Profit after tax for the period amounted to INR 642.7 million compared to Rs 604.0 million in the corresponding quarter of the previous year.

Commenting on the occasion, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said, “As the markets recovered from the after effects of the demonetization and prepared to usher in GST regime, the economic activity remained broadly unchanged from previous quarter. We remain confident that economy will start reflecting intended benefits of the new tax reforms supported by good monsoons and gradual but definite change in business paradigms led by digitalization.”