SKF India fell 1.97% at Rs 653 at 10:31 IST on BSE
after net profit declined 18.73% to Rs 45.26 crore on 11.02% fall in
net sales to Rs 533.68 crore in Q3 September 2012 over Q3 September
2011.
The result was announced after market hours on Tuesday, 23 October 2012.
Meanwhile, the BSE Sensex was up 2.35 points, or 0.01%, to 18,712.37.
On BSE, 866 shares were traded in the counter as against an average daily volume of 5,493 shares in the past one quarter.
The stock hit a high of Rs 664.95 and a low of Rs 650 so far during the day. The stock had hit a record high of Rs 728 on 3 April 2012. The stock had hit a 52-week low of Rs 535.45 on 27 December 2011.
The stock had outperformed the market over the past one month till 23 October 2012, rising 4.96% compared with the Sensex's 0.23% fall. The scrip had, however, underperformed the market in past one quarter, gaining 6.95% as against Sensex's 10.86% rise.
The small-cap company has an equity capital of Rs 52.73 crore. Face value per share is Rs 10.
SKF India's other income rose 11.8% to Rs 20.04 crore in Q3 September 2012 over Q3 September 2011. The company said other income of Q3 September 2012 included Rs 6.26 crore in respect of profit on sale of fixed assets used in the business of textile machinery components.
Commenting on Q3 September 2012 earnings, Mr Shishir Joshipura, Managing Director, SKF India said, "While the prevailing macro economic environment continues to pose challenges for growth, across the entire spectrum of industry, we have focussed on working closely with our customers, and also to improve our internal processes, to align these to the external macro environment conditions."
The SKF Group is the leading global supplier of products, solutions and services spanning rolling bearings, seals, mechatronics, services and lubrication systems. Services provided by SKF include technical support, maintenance services, condition monitoring and training.
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