SKF December quarter net rises 50 per cent to Rs 48 crore

Bearings maker SKF India on Friday posted a 50.32 per cent jump in net profit at Rs 48.39 crore for the quarter ended December 31, 2013.

The company had posted a net profit of Rs 32.19 crore in the corresponding quarter of the previous fiscal year.

Net sales of the company also increased to Rs 591.17 crore in the quarter under review, from Rs 513.37 crore a year ago.

The company follows January-December financial year. 

For whole fiscal year 2013, net profit dropped to Rs 166.72 crore as against Rs 190.08 crore in the previous year.

Net sales were at RS 2,246.44 crore in 2013 as against Rs 2,204.13 crore in last fiscal year.

Shares in SKF, on Friday, ended at Rs 655.45 apiece on the BSE, up 2.48 per cent from the previous close.