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Business Economy

Balmer Lawrie and Company records net turnover of Rs. 1,857crore

Kolkata, Sep 18 (UNI) Balmer Lawrie and Company Ltd. has recorded net turnover of Rs. 1,857 crore during 2018-19 as against Rs. 1,796 crore in 2017-18, registering an increase of approximately 3%.
The company has as well recorded a profit before tax of Rs 280.10 crore in 2018-19 as against Rs. 261.11 crore in 2017-18.
This was stated by Mr Prabal Basu, Chairman and Managing Director (C&MD) Balmer Lawrie & Company at its 10251 annual general meeting held in the city today.
Mr Basu said that the increase is attributed to improved performance of various strategic business units (SBUs), Travel, Vacations and higher dividend income earned during 2018-19.
Calling it the diversified PSU, he said that industrial packaging unit (IPU) has managed to
increase its volume over the last few years.
A new manufacturing facility, set up at Vadodara, Gujarat, is providing a significant edge to the SBU for further growth.
He informed that Balmerol brand has been recognized as one of India's best brands in 2019 by The Economic Times.
Refinery and Oil Field Services is the pioneer in mechanized oily sludge processing in India and maintains leadership position with around 70% market share, he informed and added that with patented technology back up, the SBU could process a substantial amount of oily sludge during
the past two decades and have developed a loyal list of satisfied clientele.
To maintain its competitive edge in the market, the SBU is focused on technology upgradation to stay at par with global standards, he added.
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