SKF India posts higher sales, net profit in FY 05

Mumbai, Feb 28: SKF India has registered a 34 per cent increase in its net sales for the year ended December 31, 2005, at Rs 781.3 crore as against Rs 581.3 crore last year.

Net profit for the year also rose healthily to Rs 64 crore as against Rs 56 crore last fiscal.

For Q4 FY 05, sales expanded by 53 per cent at Rs 249 crore as against Rs 163 crore for the same corresponding period last year.

The profit before tax (PBT) for the year ended December 31, 2005, amounted to Rs 103 crore as against Rs 88.3 crore last year while for Q4 FY 05, PBT for the company stands at Rs 18.5 crore as against Rs 25 crore for the same corresponding period last fiscal.

Net profit for the fourth quarter amounted to Rs 10.2 crore as against Rs 15.7 crore for the same corresponding period last year.

"While the business environment continues to be positive, the results for the quarter have been adversely affected due to expenses related to prior periods. As per the present outlook, we expect a continuous strong sales growth in 2006," said SKF India's Managing Director Rakesh Makhija.

The Board of Directors of the company has recommended a dividend at 35 per cent on the paid-up capital.

UNI