Balmer Lawrie Q4 net rises 39 per cent to Rs 50 crore

KOLKATA: PSU Balmer Lawrie & Co today said its post-tax profit has increased by 39 per cent in the fourth quarter ended March 31 to Rs 50 crore compared to Rs 36 crore in the corresponding period in the 2011-12 fiscal.

Net income of the company during March 2013 quarter increased by five per cent to Rs 654 crore compared to Rs 623 crore in the same period in 2011-12 fiscal.

Chairman and Managing Director of Balmer Lawrie, Viren Sinha said the services verticals of the company fared better as compared to the manufacturing verticals.

The performance of the manufacturing sector was subdued due to economic slowdown in the last fiscal, Sinha told reporters here today.

The company has three services verticals namely logistics, travel and tourism, while the manufacturing businesses were grease & lubricants, industrial packaging and speciality chemicals.

During the fiscal FY'13, the company issued bonus shares in the ratio 3:4 and announced 308 per cent dividend.

Shares of the company today closed 0.28 per cent higher at Rs 390.15 apiece on the BSE.