Home Auto News Components Bearings maker SKF India reports net loss at Rs 0.25 cr in...

Bearings maker SKF India reports net loss at Rs 0.25 cr in Q1FY’21

New Delhi: Auto element maker SKF India on Thursday reported net loss of Rs 0.25 crore for the quarter ended June 30, 2020.

The company had posted net revenue of Rs 77.94 crore in Q1 FY’20, SKF knowledgeable in a regulatory submitting.

The income from operations of the company for the interval was at Rs 301.2 crore as in comparison with Rs 776.eight crore in the identical quarter last year.

Total gross sales slumped 61 p.c to Rs 301.24 crore in Q1 June 2020 as in opposition to Rs 776.83 crore in Q1 June 2019.

Pre-tax loss stood at Rs 0.33 crore in Q1 FY’21 as in comparison with a pre-tax revenue of Rs 120.68 crore in the identical interval last year.

The Sweden headquartered company is a number one provider of merchandise, features and providers inside rolling bearing, seals, mechatronics, and lubrication programs.

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