SKF India Q4 profit up 4% at Rs 109 cr

Swedish auto component manufacturer SKF India on Wednesday reported a 4 percent growth in Profit After Tax (PAT) at Rs 109.47 crore for the quarter ended March.

The company had posted a PAT of Rs 104.87 crore in the year-ago period, according to a statement.

Revenue from operations spiked 22.6 percent to Rs 1,039 crore during the quarter under review as compared to Rs 847.53 crore in Q4 FY21, it stated.

''We have achieved this growth (both in PAT and revenue) despite supply chain bottlenecks, unprecedented inflation in commodity prices, and persistent global supply chain disruptions,'' Manish Bhatnagar, Managing Director at SKF India Limited said.

He said SKF India during the year took price increases to mitigate some cost inflation impact. However, full cost recovery will take time given the persistent inflationary trends and the uncertainty created by current geopolitical situation.

''As we look to expand our earnings potential, we will continue to focus on the execution of our intelligent and clean growth strategy and deep engagement with our customers and suppliers,'' Bhatnagar added.

Moreover, the company is actively strengthening its competitive position within each of its business segments, investing in people's capabilities and the future, he said.

''To realize our goals, we will continue to improve operating efficiencies, and most importantly have momentum on robust cash flow, and disciplined cost and investment approach to create long term value for all our stakeholders,'' he noted.

(With PTI inputs)

Published on: Wednesday, May 11, 2022, 11:06 PM IST