Sustained Performance by Balmer Lawrie, announces dividend of Rs 20 a share

Balmer Lawrie & Co, a mini ratna category – I PSE, has announced results for the year ended March 31, 2009. The results were approved at the board meeting of the company held on June 15, 2009.

The gross turnover of the Company has increased to Rs.1776 crore from Rs.1571 crore, showing a 13% growth. The profit before tax has risen to Rs.152 crore as compared to Rs 130 crore last year, an increase of 16%. Similarly, the net profit stood at Rs 102 crore against Rs 87 crore last year reflecting a growth of 17%. The earning per share stood at Rs 62 as compared to Rs.53 last year, one of the best for comparable companies. In view of the improved performance, the Board of Directors has recommended a dividend of Rs 20 per share for 2008-09.

The improved performance was largely due to the service businesses of the company with Logistics Services showing the biggest growth. Despite the uncertainties in the airlines commission regime, the travel and tourism business showed both top line as well as bottom line growth.