The Board of Directors of SKF India Limited, India's leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, have approved the unaudited financial results for the fourth quarter and twelve months ended December 31, 2015.
The financial highlights are as given below:
• Net Sales for the fourth quarter ended December 31,2015 amounted to INR 6019 million
• The Profit after tax for the fourth quarter ended December 31 amounted to INR 581 million registering a growth of 16.2% compared to the immediately preceding quarter and a growth of 42.2 % compared to the same quarter in the previous year.
Commenting on the occasion, Shishir Joshipura, Managing Director and Country Head, SKF India said, "The fourth quarter of 2015 witnessed moderate growth in manufacturing sector with continued headwinds in several industry segments. Our results are reflective of our continued focus on deeper customer engagement and innovation. We remain optimistic that the economy will develop positively at the back of ‘Make in India' initiative. The resultant investments will augur well for the growth of the manufacturing sector."
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