Industrial Goods company SKF India announced Q3FY24 results: Revenue from operations of the Company for Q3FY24 was at Rs 10,923 million as compared to Rs 10,772 million in the previous year. Profit Before Tax (PBT) for Q3FY24 was Rs 1,770 million compared to Rs 1,797 million during the previous year. Manish Bhatnagar, Managing Director, 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. A 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.” Result PDF
Industrial Goods company SKF India announced Q2FY24 results: Revenue from operations of the Company for Q2FY24 was at Rs 11,252 million as compared to Rs 10,783 million in Q2FY23. Profit Before Tax (PBT) for Q2FY24 was Rs 1,220 million compared to Rs 2,075 million during Q2FY23. Manish Bhatnagar, Managing Director, SKF India, said, “As the external environment remained mixed this quarter, we have delivered moderate revenue growth, achieving a 4% increase in revenue with a 41% decrease in PBT year-over-year. The increase in import costs adversely impacted our margins in this quarter. However, a normalized supply chain continues to help improve our overall operational efficiency. Looking ahead, we will continue to maintain our focus on operational improvements and productivity enhancements to sustain through this dynamic period. We are confident of systematically advancing our intelligent and clean growth strategy to sustain the long-term growth momentum. Our strong business fundamentals, coupled with the right talent, and alignment with customers’ evolving needs, position us firmly to deliver improved margins and create value for all our shareholders.” Result PDF