Balmer Lawrie records highest ever Quarterly Profit

Kolkata, Jan 25 (UNI) Balmer Lawrie&Co. Ltd has posted a profit after tax of Rs 9.66 crore to Rs 18.64 crore, an increase of 95 per cent, in the quarter ended December 2006.

The turnover went up to Rs 318 crore from Rs 299 crore, the highest ever quarterly profit in the history of the company.

The turnover rose to 7 per cent over the corresponding quarter of the previous year, said a company release.

The company's focus was on seeking high value addition in its various businesses and improving operating efficiency through effective cost management to achieve a healthy growth in bottomline.

The strategy has shown good results so far in the current year.

In the nine-month period to December 2006, the company achieved a turnover of Rs 956 crore against Rs 939 crore in the same period of 2005-06 and profit after tax of Rs 55.97 crore compared to Rs 34.93 crore of comparative period of last year.

During the quarter, Balmer Lawrie was accorded the upgraded status of Mini Ratna Category I by the Government of India. This will enable the company to enjoy greater managerial and commercial autonomy.

UNI