SKF India announces Q4 net profit leaps, to explore setting up of new plant in Uttarkhand

SKF India Ltd has announced the following results for the quarter & year ended December 31, 2006:

The Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 317.30 million for the quarter ended December 31, 2006 as compared to Rs 102.50 million for the quarter ended December 31, 2005. Total Income has increased from Rs 2564.70 million for the quarter ended December 31, 2005 to Rs 3816.60 million for the quarter ended December 31, 2006.

The Audited results for the year ended December 31, 2006:

The Company has posted a net profit of Rs 1019.60 million for the year ended December 31, 2006 as compared to Rs 640.70 million for the year ended December 31, 2005. Total Income has increased from Rs 8160.10 million for the year ended December 31, 2005 to Rs 13508.30 million for the year ended December 31, 2006.

The company has also announced that the Board of Directors of the Company at its meeting held on February 21, 2007, as a part of any other item, was appraised by the management of a potential investment opportunity of setting up a new plant in Uttarkhand (Uttaranchal) to manufacture bearings.

Further the Company has informed that, the Board noted this and requested the management to bring before the Board a detailed project report for evaluation and decision for further action.

The company has also recommended a dividend of 45% on the paid-up capital.

Source : Equity Bulls

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