Bearing manufacturer SKF India reported a growth of 81% in its profit after tax (PAT) at INR 117.64 crore in the second quarter of the ongoing fiscal year. The company recorded at INR 65.02 crore PAT in the same quarter last year.
In terms of revenue from operations for the period under review, the company registered INR 9,66.37 crore, up 29% compared to INR 703.24 crore in the previous year.
Manish Bhatnagar, Managing Director, SKF India, said, 'Driven by a strong business momentum, recovery in demand and good progress across our strategic priorities, we delivered our best ever quarterly performance.'
“These results reflect the strength of our brand, significant trust of our customers, agility of our suppliers, and confidence of our stakeholders.While we adopted a disciplined approach to minimise the inflationary impact, we continue to see high and volatile inflation across commodities and services. If required, we will take pricing actions to mitigate inflationary pressures,” he added.