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SKF India shares off opening highs even as September quarter profit jumps over 30%

SKF India shares off opening highs even as September quarter profit jumps over 30%

SKF India shares off opening highs even as September quarter profit jumps over 30%
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By CNBCTV18.com Nov 4, 2022 1:11:32 PM IST (Published)

Consolidated revenue stood at Rs 1,088.42 crore, up 11.6 percent from last year.

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SKF India Ltd. gained as much as 8 percent on Friday before paring most of the gains after reporting healthy earnings for the September quarter.


The company's net profit climbed 32.5 percent to Rs 155.82 crore from Rs 117.56 crore in the year-ago quarter. Compared to the previous quarter, net profit grew by 20.7 percent.

Consolidated revenue stood at Rs 1,088.42 crore, up 11.6 percent from last year.

SKF India reported EPS (earnings per share) of Rs 31.5 as compared to Rs 23.8 for the year-ago quarter and Rs 26.1 for the previous quarter.

Shares of SKF India have been outperformers in the last year, with the share price jumping by over 29 percent during the period compared with a nearly 1.5 percent rise in the benchmark Sensex. The stock hit a record high of Rs 5,074.2 on 12 September 2022.

Shares of SKF India are trading 2.7 percent higher at Rs 4,519.
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