SKF India reports Rs 132 crore profit for Q3 FY2024

SKF India, one of the leading technology and solutions providers of bearings and units, condition monitoring, and services, has announced its financial results for the Q3 FY2024.

The company reported revenue of Rs 1,092 crore, a flat growth compared to Rs 1,077 crore for the same period last year.

The net profit came at Rs 132 crore, up 13 percent YoY, as compared to Rs 116 crore a year ago.

Manish Bhatnagar, MD, SKF India said, ‘Given the mixed external environment, we delivered moderate revenue growth, achieving a 1% increase in revenue with a 2% decrease in PBT year-over-year. Resilient supply chain along with our focus on operational improvements and productivity enhancements enabled us to meet the customer needs and deliver value for our shareholders.’

To keep advancing our intelligent and clean growth strategy, we continue to focus on overall operational efficiency and investing for sustained and profitable growth, while enabling the transition to net zero.

We remain committed to consistent strategy execution across the business and serving our customers to deliver improved margins and long-term value for our shareholders,’ he added.