BOC India Limited, now a member of the Linde Group, has announced its Q3 results. The company ended the quarter with Gross sales at Rs.125.21crore, profit before tax and extraordinary items at Rs.5.04 crore and net profit at Rs 3.77 crore.
The performance of the quarter was significantly impacted by a breakdown in the company's 1290 tonnes per day (tpd) air separation unit (ASU) at Jamshedpur. The plant was shutdown for a period of twenty days to undertake modifications. While the plant has now commenced operations, the company is monitoring its condition and will take a planned shutdown to rectify the situation in the forthcoming quarters.
While the Process Gas Solution segment results were impacted by the above breakdown, the Industrial and Special Products segment of the Company continued to grow and recorded increased revenues for the quarter.
The Project Engineering Division maintained its momentum of growth, recording a jump of 64 percent in gross third party sales, compared to the corresponding period in the previous year, after excluding the one off billings to the Bellary Oxygen Company for the 855 tpd ASU. They ended the quarter with an order book, which stood at Rs. 10422.77 lakhs including a recent order win from Bongaigaon Refinery & Petrochemicals Ltd.
The Division is also in the process of constructing the Company's 1800 tpd ASU, for the supply of 3000 tonnes of gases to JSW Steel at Bellary, its second supply scheme win from the steel major. Engineering work on the site has commenced and the plant is expected to be commissioned in 2008. The 855 tpd ASU set up by BOC for JSW, under a joint venture was commissioned earlier in 2006 and is operating smoothly.