BOC registers lower net for quarter ended December 2012

KOLKATA: BOC India Ltd, a member of the Linde Group, announced its audited financial results for the year ended 31 December 2012, reported a gross sales turnover of Rs 1400.2 crore in 2012, an increase of 20% against Rs 1168.2 crore recorded in 2011.

The net profit after tax for 2012 stood at a lower level of Rs 89.5 crore against Rs 121.7 crore in 2011 due to higher depreciation and interest cost for new investments.

Its gases business recorded a sales growth of 20% in 2012 over the previous year due to commissioning of new plants. The turnover of the project engineering division for the year grew by 16 % compared to 2011 as a result of higher export revenue.

For Q4 of 2012, the company reported a gross turnover of Rs 351.3 crore as compared to Rs 361.3 crore achieved in the corresponding quarter of 2011. The gases business recorded a sales growth of 10% over the corresponding period last year. However the turnover of the project engineering division during the quarter was lower by 29% compared to the previous year quarter given the high third party project sales booked

in Q4 2011. The Board of Directors recommended a dividend of 15 percent (Rs. 1.50 per share of Rs 10 each) for the year 2012.