BOC India Q4 net profit more than doubles
The company's board also appointed Sanjiv Lamba, member of the executive board, Linde, AG, as its chairman.
KOLKATA: BOC India Ltd, a member of The Linde Group of Germany, reported a more than two-fold jump in net profit at Rs 50.6 crore in the fourth-quarter ended December 31, 2011, from Rs 19.3 crore net in the earlier corresponding period.
The surge in net profit follows a 38.9 % rise in BOC India's October-December gross turnover at Rs 361.3 crore (Rs 260.1 crore).
According to a media statement issued after the board meeting, turnover from the company's project engineering division during the quarter grew by 55 % compared to the previous year quarter due to increased third party sales. The gas business recorded a sales growth of 34 % over the corresponding period last year.
The company's board of directors recommended a dividend of 15 % (Rs 1.50 per equity share of Rs 10 each) for the year 2011, which together with the dividend tax would add up to Rs 14.9 crore. The company's board also appointed Sanjiv Lamba, member of the executive board, Linde, AG, as its chairman. Lamba, who has been with The Linde Group since 1989, will replace chairman S. M. Datta, who is retiring.
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