SKF India is planning to set up two new facilities in the southern state of Karnataka in 2012 and 2013 for which the company is planning to invest more than Rs 200 crore. Recently, the company had inaugurated its Global Technical Centre in Bengaluru.
SKF makes products for a range of sectors including automobiles, aerospace, wind energy, construction and industrial transmission.
The company’s net profit for the third quarter ended September 30, 2011 of the current fiscal has surged 35.60% at Rs 55.69 crore as compared to Rs 41.07 crore for the corresponding quarter of the last year supported by cost control measures and higher sales. The company’s total income has increased 14.11% at Rs 605.87 crore for the quarter under review as compared to Rs 530.94 crore for the second quarter of the previous year.