Press Release Details
Balmer Lawrie Reports a relatively Flat Second Quarter 09 November 2011
Balmer Lawrie Reports a relatively Flat Second Quarter
The Board of Balmer Lawrie & Co. Ltd., a Mini Ratna Category – I PSE with diversified business portfolios, has reported a relatively flat second quarter as per the accounts adopted for the quarter ending 30 September 2011, in its Board Meeting held in Kolkata on 09 November 2011.
Whereas the net income has gone up by around 6% to `532.22 crores for the second quarter of the Financial Year 2011-12 from `500.49 crores for the corresponding quarter last year, the net profit has shown marginal dip of around 1% to `29.13 crores as compared to `29.53 crores for the corresponding quarter last year. However, for the half year ending 30 September 2011, the net income has gone up by 11% to `1122.27 crores; the net profit has gone up by 21% and stands at `74.04 crores.
The relatively flat second quarter performance has been attributed by the Company to the general slowdown of the economy which has affected most of the businesses both in the manufacturing and services sectors.