SKF India reported a 30.7% decline in consolidated net profit to Rs 88.79 crore in Q3 FY22 from Rs 128.11 crore posted in Q3 FY21. Net sales grew by 18.1% to Rs 966.98 crore in Q3 FY22 from Rs 818.7 crore registered in Q3 FY21.
SKF India manufactures a wide range of ball and roller bearings, such as deep groove, taper roller and other types. Bearings are used by a number of industries, including the automotive, electrical, power generation, cement, steel, petrochemical and textile industries.
Shares of SKF India dropped 7.81% lower to Rs 3,101 on BSE.
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