BOC India Limited, a member of The Linde Group, announced its audited financial results for the quarter ended 30 June 2012, which were approved by the Company’s Board of Directors at its meeting held earlier today.
For Q2 2012 the Company reported net sales turnover of Rs 3,424 million, an increase of 39 percent as against Rs 2,470 mn recorded in the same quarter last year.
Profit from ordinary activities before interest and tax of Rs 321 mn was lower (Rs 362 mn in Q2 2011) mainly due to a one-off effect last year.
Therefore the net profit for Q2 2012 also stood at a lower level of Rs 203 million (Rs 270 million in Q2 2011).
The Gases business recorded a sales growth of 15 percent over the corresponding period last year. The turnover of the Project Engineering Division during the quarter grew by 71 percent compared to the previous year quarter due to new projects.
During the quarter, the Company commissioned its 2,550 tons per day (tpd) air separation plant at Tata Steel's Jamshedpur steelworks. This new 2,550 tpd plant in Jamshedpur is now the largest air separation plant in India. The Company also commissioned a new 450 tpd merchant air separation plant at Taloja, western India, which will cater to the growing demand for industrial gases in the west.
The Company entered a long term contract with Tata Steel to supply gases to Tata Steel’s new integrated steelworks in the Kalinganagar Industrial Complex in Odisha, which will come on stream in 2014. BOC India will invest Rs 5.4 billion to set up two large air separation plants, each with a capacity of 1,200 tpd, which will also be ready by 2014.