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Linde India Ltd (formerly BOC India) reported net profit of Rs 5.9 crore for the first quarter to March 31 this year. Its net profit dropped 67 per cent from that in the first quarter in 2012.
The company in a statement said this was “due to additional finance cost for newly capitalised assets and deferred tax charge”.
“The gases business has committed significant investments for setting up large capacities for catering to the customers in the steel sector and merchant markets which is another important pillar for our long-term growth aspirations,” the statement said.
The gross turnover of Rs 3,445 crore, however, showed an increase of eight per cent against Rs 319 crore recorded in the same quarter last year. The industrial gases business recorded a sales growth of 10 per cent over the corresponding period last year.
The turnover of the project engineering business during the quarter increased by seven per cent. The order book in the project engineering business remains at a high level at present, Linde India added.
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