BOC India posts Rs 23.83 crore net profit

Gas and petrochemicals service provider BOC India posted Rs 23.83 crore net profit in the first quarter (January-March) of 2010 against Rs 5.04 crore realised during the corresponding period a year ago.

Gas and petrochemicals service provider BOC India posted Rs 23.83 crore net profit in the first quarter (January-March) of 2010 against Rs 5.04 crore realised during the corresponding period a year ago.

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“The company reported turnover of Rs 264.82 crore for the quarter, reflecting an overall increase of over 60 percent compared to the corresponding quarter in 2009,” a company statement said in Kolkata on Wednesday.

The revenue of the gas business grew by over 46 per cent, driven mainly by the tonnage business, due to the full ramp up of the 1,800 tpd (tonnes per day)plant at JSW Steel works in Bellary, it said.

The higher revenues from the gases business were also contributed by higher sales of liquid argon, oxygen and nitrogen to the steel, automobile and petrochemicals sectors.