SKF India Q4 PAT rises 4% YoY to Rs 109 cr

12 May 2022 , 10:22 AM

Net sales grew by 22.6% to Rs 1039crore in Q4 FY22 from Rs 847.53 crore registered in Q4 FY21. Profit before tax was up by 5.1% to Rs 145.68 crore in Q4 FY22 over Q4 FY21. Total expenditure spiked 25.8% year on year to Rs 879.57 crore in the quarter ended 31 March 2022. Cost of raw materials consumed surged 31.6% to Rs 265.47 crore in Q4 FY22 as against Rs 201.79 in Q4 Fy21. On yearly basis, the company reported a 32.7% rise in consolidated net profit to Rs 394.96 crore on a 37.3% increase in net sales to Rs 3,665.89 crore in the financial year ended March 2022 over financial year ended March 2021. Meanwhile, the companys board approved appointment of Ashish Saraf, as chief financial officer (KMP) with effect from 11 May 2022. The board recommended a final dividend of Rs 14.5 per equity share for the financial year ended 31 March 2022. 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 were trading 0.62% higher at Rs 3,116.35 on the BSE. Powered by Capital Market – Live News