BOC India has reported a turnover of Rs.287.25 crore for the first half-year and registered a growth of 27.5%, as significant growth derived from the steel, automobile and healthcare markets.
Net profit for the period stood at Rs.42.71 crore, while results for the company’s quarter ending June 2008 were also up significantly at a turnover of Rs145.9 crore and a net profit of Rs.16.9 crore.
The company, now a member of The Linde Group, reported that it saw growth across all its businesses with significant growth coming in from strong sales to steel, automobile ancillaries and healthcare markets.
During the second quarter ended 30th June 2008, BOC India recorded a turnover of Rs145.9 crore as against a turnover of Rs106.8 crore for the same quarter in the previous year. During the quarter under review, the total turnover of the Gases business segment was up around 24%, driven by strong growth in all segments.
An increased focus on current projects in the Projects Engineering Division is cited as having led to a substantial growth in turnover during the current quarter, when compared to the period ended 30th June 2007.
The Division has also focused on construction of the 1800 tpd ASU at Bellary, which is scheduled to be commissioned by the fourth quarter of this year.
Commenting on the performance, Srikumar Menon, Finance Director for BOC India Limited said, “The opportunities pursued in the new sectors have begun to show encouraging results. These have been ably complemented by the strong growth in our core businesses of gas sales, solutions and engineering.”
BOC India Limited (BOCI) sees itself as the leader in the gases industry in India since 1935, providing a one-stop solution to every sphere of gas and gas related business.
Such a wide scope of business in the country saw the company’s profit before tax from operations total Rs25.6 crore, a growth of 390% when compared to Rs5.2 crore in the year ago period ended 30th June 2007.