BOC India Limited has reported its financial results for the second quarter and the half-year ended on September 2006.
The company\\$quot;s gross sales for the quarter stood at Rs 134.22 crores, compared to Rs 107.39 crores achieved in the corresponding period of the previous year, registering a growth of 25 per cent.
The profit before tax (PBT) and extra ordinary items for the quarter was Rs. 19.16 crore up 86 per cent from the figure recorded in the corresponding period last year.
The gross sales for the half-year ended 30 September 2006 stood at Rs. 253.06 crores, compared to Rs. 219.33 crores achieved in the corresponding period of the previous year. The profit before tax (PBT) and extra ordinary items for the same period was at Rs. 34.01 crores compared to Rs. 27.33 crores in the corresponding period last year.
Significantly the Rs.19.16 crore profit recorded for the quarter ended 30 September 2006 has been delivered without any extraordinary items being recorded whereas the PBT of the corresponding period last year amounting to Rs 57.32 crores included extraordinary income of Rs 47 crores from the sale of property.
During the quarter ended 30 September 2006 Bellary Oxygen Company Private Limited, in which BOC India Limited holds 50 per cent of the paid up share capital, commissioned a 855 tonnes per day air separation unit at Bellary, built to supply gases to JSW Steel Limited as per the long term gas supply contract entered into in this regard.
\\$quot;Going forward this ASU plant will improve our market position and strengthen our leadership position in the gases industry,\\$quot; commented ER Raj Narayanan, Managing Director, BOC India Limited. He further added, \\$quot; This is an exciting time in BOC India as we are significantly improving our product availability in keeping with the growing demands of our customers. We are also constantly exploring new business opportunities that are coming up in this region.\\$quot;
Also during this period BOC India Limited commissioned a state of the art liquid compression facility at a greenfield site in Pune. This new plant in Pune is part of a long-term strategy to expand the geographical reach of the Industrial & Special Products (I&SP) business of the company. A special gases manufacturing facility was also commissioned at the new site in Taloja keeping in mind the growing demand of such gases in the country.