Indias diversified, state-run enterprise Balmer Lawrie & Co. Ltd. reported that operating profit from its greases and lubricants segment rose 12 percent year on year in its first quarter.
Balmer Lawrie, one of Indias largest grease suppliers, said that the segment posted a standalone profit of just under Rs 10.7 crore (Rs 107 million or U.S. $1.6 million) before tax and finance cost during the quarter ended June 30, up from Rs 9.5 crore in the same period last year.
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Net sales for the segment climbed 4 percent year on year to Rs 103.6 crore from Rs 99.4 crore a year ago. The company supplies its Balmerol-branded products to defense, railways, mining, steel, heavy engineering, power and automotive sectors. It has a network of more than 250 distributors and 4,500 dealers across the country.
Balmer Lawries other three segments are industrial packaging, logistics infrastructure and services, and tours and travel. Both the manufacturing and service businesses performed well, the Kolkata-based company said in a statement.