- SKF India drops after weak Q4 earnings
Hot Pursuit Thursday, February 23, 2012 14:45 Hrs IST

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SKF India drops after weak Q4 earnings

SKF India lost 2.65% to Rs 665.10 at 14:43 IST on BSE after net profit fell 8.12% to Rs 40.36 crore on 10.6% growth in net sales to Rs 593.15 crore in Q4 December 2011 over Q4 December 2010.

The company announced the results during trading hours today, 23 February 2012.

Meanwhile, the BSE Sensex was up 47.75 points, or 0.26% to 18,193.

On BSE, 10,000 shares were traded in the counter as against average daily volume of 5,672 shares in the past one quarter.

The stock hit a high of Rs 687 and a low of Rs 660.05 so far during the day. The stock had hit a 52-week low of Rs 504.10 on 25 February 2011. The stock had hit a record high of Rs 695.95 on 21 February 2012.

The mid-cap stock had outperformed the market over the past one month till 22 February 2012, rising 9% compared with the Sensex's 8.4% gain. The scrip had, however, underperformed the market in past one quarter, rising 11.6% as against Sensex's 12.95% gain.

The mid-cap company has an equity capital of Rs 52.73 crore. Face value per share is Rs 10.

SKF India's net profit rose 17.77% to Rs 208.49 crore on 16.83% growth in net sales to Rs 2416.72 crore in the year ended 31 December 2011 over the year ended 31 December 2010.

SKF India's board of directors, at a meeting held today, 23 February 2012, recommended a dividend of Rs 7.50 per equity share for the year ended 31 December 2011.

SKF India makes bearings, seals, mechatronics and lubrication systems. At the global level, the SKF Group is a leading global supplier of products, solutions and services within rolling bearings, seals, mechatronics, services and lubrication systems.

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