SKF India's Q1FY17 standalone net profit rises 29.75% yoy to Rs.60.40 crore

India Infoline News Service | Mumbai | July 20, 2016 15:11 IST

The company’s standalone revenue stood at Rs. 703.17 crore, up 7.1% yoy and 10.65% qoq.

SKF India Ltd, auto technology, services and solutions provider, reported standalone net profit of Rs. 60.40 crore for the quarter ended June 30, 2017, registering growth of 29.75% yoy and 16.58% qoq. The company’s revenue stood at Rs. 703.17 crore, up 7.1% yoy and 10.65% qoq.

Its standalone core operating profit of Rs. 83.65 crore for the quarter, clocked growth of 26.46% yoy but decline of 0.14% qoq. Operating profit margin for the current quarter at 11.9% expanded by 182 bps yoy but contracted by 128 bps qoq.

Standalone EPS for the quarter stood at Rs. 11.5.

Stock Commentary: 

SKF India Ltd is currently trading at Rs. 1376.55, down by 34.35 points or 2.43% from its previous closing of Rs. 1410.9 on the BSE.

The scrip opened at Rs. 1425 and has touched a high and low of Rs. 1432.85 and Rs. 1368 respectively. So far 75545(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7439.68 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1480 on 21-Jul-2015 and a 52 week low of Rs. 1040 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 1424 and Rs. 1320 respectively.

The promoters holding in the company stood at 53.58 % while Institutions and Non-Institutions held 32.51 % and 13.91 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart



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