Third-quarter profits for Balmer Lawries grease and lubricants segment fell 35 percent year-over-year, while Savitas petroleum products division also declined.
Balmer Lawrie reported a profit of Rs 5.07 crore (around 51 million rupees, or U.S. $817,000) for its quarter-ended Dec. 31, compared to Rs 7.77 crore the year earlier.
Indias largest grease manufacturers quarterly net sales were Rs 103.02 crore – down about 5 percent from 2013s Rs 108.52 crore.
Kolkata-based Balmer reported gains in all of its other segments, which include industrial packaging, logistics infrastructure and travel and vacations.
Savita Oil Technologies Ltd. also reported quarterly dips both overall and for its petroleum products segment, while its expenses were down as well.
Savita, headquartered in Mumbai, reported total operating income of Rs 44,008 lakhs (4.4 billion rupees) in its third quarter, versus Rs 51,821 lakhs in 2013.
Revenue from Savitas petroleum products segment – which includes Savsol-branded lubricants along with transformer oils, white oils, waxes and more – was Rs 43,611 lakhs, having declined around 15 percent from 2013s quarterly gain of Rs 51,374 lakhs. Savitas wind power segment reported a similar drop.
Savitas total expenses were down around 9 percent year-over-year, at Rs 45,842 lakhs compared to Rs 50,447 lakhs the year prior.