SKF India has disclosed its financial performance for the fourth quarter of the fiscal year 2023-24. The Board of Directors of SKF India Limited, a leading technology and solutions provider in bearings, units, condition monitoring, and services, has approved the unaudited financial results for the quarter ending March 31, 2024.
The key financial highlights are summarized as follows:
- The Company’s revenue from operations for the quarter amounted to 12,034, compared to 10,947 in the corresponding period of the previous year.
- The Profit Before Tax (PBT) for the quarter stood at 2,292, reflecting a significant increase from 1,696 in the previous year.
Mukund Vasudevan, Managing Director of SKF India Limited, commented on the results, noting, “Despite facing challenges in the external environment, we achieved notable revenue growth, marked by a 10% increase in revenue and a substantial 35% rise in PBT year-over-year. Our resilient supply chain, coupled with a focus on operational enhancements and productivity improvements, enabled us to meet customer demands and generate value for our shareholders.”
He further added, “We remain committed to advancing our intelligent and sustainable growth strategy, emphasizing operational efficiency and investments for sustained and profitable growth while transitioning towards a net-zero future. Our dedication to maintaining long-term growth momentum, consistent strategy execution, and value creation for all stakeholders remains unwavering.”