Friday, September 30, 2022

Balmer Lawrie holds 102nd Annual General Meeting

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Kolkata: Balmer Lawrie & Co Ltd held its 102nd Annual General Meeting on Wednesday. The PSU informed its shareholders on the occasion that it recorded a net turnover of Rs 1,857 crores during 2018-19 as against Rs 1,796 crores in 2017-18. The figure marks a 3 percent increase above last year.

Financial performance

Further, the company recorded a Profit Before Tax (PBT) of Rs 280.10 crores in 2018-19 as against Rs 261.11 crores in 2017-18, the increase is attributable to improved performance of various SBUs, particularly, SBU: Travel & Vacations, Greases and Lubricants and higher dividend income earned during 2018-19.

ALSO READ: Startup Fund Program: Balmer Lawrie signs MoU with IIM Calcutta Innovation Park

‘Balmer Lawrie continues to earn profits’

“India has around three dozen century-old companies that are listed and still actively traded. Balmer Lawrie is one of them. In its journey of 152 years, it has witnessed many historical moments of the country. Though it is very proud of its glorious past and heritage, the company does not believe in resting on its laurels. The company continues to earn profits by pro-actively seizing the opportunities in the present, such that it is able to live up to the commitment made to all stakeholders in the future. Balmer Lawrie is constantly innovating and leveraging its strengths to be a future-ready company,” Chairman and Managing Director Prabal Basu said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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