BOC India Limited announces strong operational profits for the period Q3 2004.
The Company delivered a very strong operational profit before tax and extraordinary items for the quarter ending 31 December 2004 at $4 million U.S.A. dollars (USD), representing a growth of more than 300% over that of the corresponding period of the previous year.
The increase in profitability is due to the significant increase in turnover from both the gases and project engineering business. The net profit after tax was $2.6 million USD for the quarter under review. The net profit is significant as it includes extraordinary profits from sale of property of only $470,000 USD during the quarter compared to that of $5.5 million from the sale of Ghatkopar property at Mumbai in the same quarter of the previous year.
Turnover of $24 million USD for the quarter grew 38% over the same period last year driven by the higher billing of the Project Engineering Division and higher take-off gases from its 1290 tpd plant at Jamshedpur.