Date: 2013-08-02

FAG Bearings India standalone quarterly net plunges

FAG Bearings India disclosed a substantial drop in standalone net profit for the quarter ended June 2013. During the quarter, the profit of the company declined 44.68% to Rs 255.80 million from Rs 462.40 million in the same quarter previous year.

Net sales for the quarter declined 18.03% to Rs 3,115.70 million, compared with Rs 3,801.20 million for the prior year period.

Earnings per share for the quarter stood at Rs 15.39, registering 44.68% decline over previous year period.

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