Balmer Lawries grease and lubricants segment posted a loss for the three months ended June 30, while Sah Petroleums moved back into the black after a loss during the same period a year ago.
Balmer Lawrie, Indias largest grease producer, said its greases and lubricant segment had net income of Rs 100 crore (U.S. $16.4 million) for the quarter that ended June 30, the first quarter of its fiscal year. That represented an increase of 2 percent from the first quarter of 2013-2014.
The Kolkata-based company said the grease and lube segment lost Rs 15 lakhs in this years opening quarter after recording a net profit of Rs 7 crores in the year-ago period. Balmer Lawries other three segments – industrial packaging, logistics infrastructure and services, and tours and travel – all posted profits during the quarter.
Sah Petroleums reported that income from operations jumped 23 percent, from Rs 8,858 lakhs in the first quarter of 2013-2014 to Rs 10,934 lakhs in the same period of 2014-2015. Expenses rose by a similar amounts, from Rs 8,679 lakhs in last years first quarter to Rs 10,746 lakhs in this years.
The net result was a step over the line between losing and making money. Sah, a Mumbai-based lubricant supplier, posted a net profit of Rs 88.9 lakhs for this years first quarter compared to a loss of Rs 600 lakhs in the same period of last year.