Mumbai, 19 July 2016: Linde India Limited announced its financial results for the quarter ended 30 June 2016, which were approved by the Company’s Board of Directors at its meeting held earlier today.
The net revenue for the quarter, at Rs. 4,285 million, grew by 15% compared to same quarter last year. The gases business growth of 16% during the quarter was driven by an increase in demand from On-site and merchant customers. The engineering business registered a modest growth of 4% compared to same quarter last year.
The operating profit for the quarter stood at 771 million, a 13% increase over the same quarter last year, of which the Gases business contributed 678 million, registering an increase of 14%, owing mainly to the successful commissioning of the new air separation unit at Kalinganagar for Tata Steel. While an increase in the depreciation charge and a higher financing cost resulted in a loss of Rs. 33 million before tax and a net loss of Rs. 25 million after a deferred tax impact; the profit numbers will improve significantly once the plant is loaded, particularly with the impact of merchant argon.
About Linde India
Linde India Limited has been the leader in the gases business in India since 1935, providing a one-stop solution to all businesses for gas supply and related equipment and services. The company also manufactures cryogenic and non-cryogenic vessels and also designs and commissions projects. It has excelled by successfully blending local innovation and adaptation with international expertise from The Linde Group. Be it for food processing, medical, domestic or industrial use, Linde India provides tailor-made solutions for its customers, conforming to the strictest international standards of production and safety.
For more information, see Linde India online at www.linde.in
About The Linde Group
In the 2015 financial year, The Linde Group generated revenue of EUR 17.944 bn, making it one of the leading gases and engineering companies in the world, with approximately 65,000 employees working in more than 100 countries worldwide. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.com