SKF India Q1 FY22 Results Deliver 130 percent Revenue Growth and 11.4 Percent PAT

Pune, India – SKF India Ltd announced its unaudited financial results for the first quarter ended June 30, 2021. The company’s revenue from operations for the period was INR 693.53 crore as compared to INR 301.24 crore in the previous year. The Profit Before Tax for the period was INR 105.8 crore, compared to a loss of INR 0.33 crore the previous year.

Explaining the period as a tough quarter due to the second wave of COVID-19 across the country, Manish Bhatnagar, Managing Director, SKF India Ltd, said, “At SKF, our COVID response is firmly focused on the well-being of both our employees and our business. We are doing everything we can to ensure the safety and health of all our employees, partners, and other stakeholders. While the quarter witnessed volatile price and availability challenges on steel and logistics, we have been disciplined in our approach to ensure that this inflationary impact is either eliminated or minimized to reduce the need for price increases to customers.”

He further concluded, “We continue to focus on putting our customers and employees first and exercise a strong cost discipline across business operations. Our financial results, despite the challenges, are commendable with strong gains year on year. We delivered a 130% revenue growth and an 11.4% PAT. This strong performance reflects the strong resilience and a winning spirit of our people.”

Image Source: SKF India Ltd

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