The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems and services, today approved the audited financial results for the year ended March 31, 2019.
The financial highlights are as given below:
The Revenue from operations of the Company for year ended on 31st March, 2019 stood at Rs 30,345 million as compared to Rs 28,048 million in the previous year.
The Profit After Tax for the period amounted to Rs 3,357 million compared to Rs 2,960 million during the previous year, registering a growth of 13.5%.
The Board has recommended a dividend of Rs 12/- (120%) per share.
Commenting on the occasion, Mr. Manish Bhatnagar, Managing Director, SKF India said, “In a year marked by a slowing growth in the economy and a distinct slowdown in the manufacturing and automotive sectors, SKF India has shown a steady growth due to our continued focus on working extremely closely with our customers with advanced, technology-driven and customized solutions that help them improve their performance. We remain optimistic of India’s inherent potential and continue to invest in the country to harness the growth opportunities it presents.”