SKF India announces Q1 FY 2023-24 financial results
The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings and units, seals, lubrication, condition monitoring and services, today approved the unaudited financial results for the first quarter ended June 30, 2023.
The financial highlights are as given below:
* The Revenue from operations of the Company for the quarter was at Rs 11,496 million as compared to Rs 10,547 million in the previous year.
*The Profit Before Tax (PBT) for the quarter was Rs 2,076 million compared to Rs 1,761 million during the previous year.
Manish Bhatnagar, Managing Director, SKF India Limited, said, “We reported yet another quarter of impressive growth, achieving a 9% increase in revenue and an 18% increase in PBT year-over-year. Our focus on portfolio management and higher price realization helped us offset inflationary pressures.”
“Given our focus on strong cash flow momentum and driving operational efficiency, we remain well prepared for further profitable growth in the upcoming quarters. Looking ahead, we are confident that the continued execution of our intelligent and clean growth strategy will help us sustain the growth momentum and create significant value for shareholders,” he added.
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