BOC India Ltd registered net profit of Rs 17.33 crore

KOLKATA: BOC India Ltd, a member of Germany’s The Linde Group, registered a lower net profit of Rs 17.33 crore for the third-quarter (Q3) ended September 30, 2011, compared to Rs 26.26 crore in the previous corresponding period, due to inflationary pressure and higher overheads for new business.

Profit before interest and exceptional items stood at Rs 24.94 crore for the said quarter against Rs 30.05 crore in the previous corresponding period. While gross turnover for the quarter under review was Rs 326.07 crore (Rs 250.01 crore), the company’s gases business recorded a sales growth of about 6 %.

Turnover of the project engineering division during the quarter doubled as compared to the previous year quarter due to achievement of milestones on several ongoing projects.

In a media statement issued after the board meeting on Tuesday, BOC India managing director S K Menon said, “BOC India’s project engineering business successfully met its billing targets while continuing its focus on the execution of in-house projects. The gases business grew its top-line in what was a difficult economic environment.”