SKF India Jan-March Net Rises Marginally

Bearings maker SKF India Ltd on Wednesday reported a modest rise in quarterly net profit and said it was concerned about rising raw material prices.

For the Jan-March period, SKF India reported a net profit of 377.6 million rupees, up 3 percent from 366.6 million rupees a year ago.

Net sales rose 9 percent to 3,921.0 million rupees.

"Raw material prices and availability are a concern and we are addressing this as a priority," SKF Managing Director Rakesh Makhija said in a statement.

Shares of SKF India were down more than 1 percent at 305.50 in the Mumbai market.