New Delhi, 10 November 2016: Linde India Limited announced its financial results for the third quarter ended 30 September 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. 4,650 million, grew by 16% compared to same quarter last year. The revenues of the Gases business grew by 13% during the quarter, driven by an increase in demand in the steel and automotive segments. The Project Engineering revenues registered a growth of 35% compared to same quarter last year.
The operating profit for the quarter stood at Rs. 788 million, a 25% increase over the same quarter last year. The gases business contributed Rs. 682 million, registering an increase of 35% while the engineering business contributed Rs. 106 million, lower by 14% from the same quarter last year due to lower margins on current projects.
The depreciation charge and financing cost of the newly commissioned air separation units at Tata Steel’s steelworks in Kalinganagar resulted in a loss before tax of Rs. 49 million and net loss of Rs. 35 million compared to a profit before tax of Rs.10 million and net profit of Rs. 3 million in the same quarter last year. Adjusted for the effects from the aforementioned newly commissioned plants the overall sales grew by Rs. 520 million and operating profit grew by Rs.56 million, while performance at profit before tax level showed an improvement of Rs.27 million.
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