Date:07/05/2004 URL: http://www.thehindubusinessline.com/2004/05/07/stories/2004050702090200.htm

Back BOC India net, turnover rise

KOLKATA: BOC India Ltd, a 55-per cent subsidiary of BOC Group Plc, posted eight per cent growth in turnover at Rs 347.2 crore (Rs 322.3 crore) and 80 per cent growth in net profit at Rs 29.3 crore (Rs 16.3 crore) during the year ended March 31,2004, according to a company release.

The improvement was attributed to increased sales volume, better price realisation, higher operational efficiency and significant reduction in financing costs.

The board of directors at a meeting held today recommended a dividend of Re 1 per equity share (10 per cent) for the period under review.

The operating profit (after depreciation and interest but before tax and extraordinary items) at Rs 20.1 crore registered a growth of 76 per cent and the profit before tax more than doubled to Rs 43.7 crore (Rs 20 crore). An extraordinary profit of Rs 25.32 crore arising out of the sale of the company's Ghatkopar property in Mumbai was also accounted in the period.