SKF India tanks 7%, hits over six-month low on muted Q2FY25 results

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SKF India tanks 7%, hits over six-month low on muted Q2FY25 results - Business Standard

Quick Summary:

Analysts at ICICI Securities said that SKF’s profitability remained muted during the quarter on account of contraction in margins due to higher trade sales and increase in others cost.

The stock corrected 38 per cent from its 52-week high level of Rs 7,349 touched on June 18. In Q2FY25, the company's profit after tax (PAT) grew 4.6 per cent year-on-year (Y-o-Y) at Rs 94.3 crore.

Despite these opportunities, the organised ball bearings market faces a notable challenge from counterfeit products, which are easily accessible at lower prices, SKF India said.