Business Daily from THE HINDU group of publications
Saturday, Aug 01, 2009
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Business Daily from THE HINDU group of publications Saturday, Aug 01, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Engineering Process tech business boosts Alfa Laval net Our Bureau Pune, July 31 Alfa Laval’s process technology business played a major role in its profitability during the quarter ended June 30, 2009. Profit after tax (PAT) at Rs 29.6 crore was 14 per cent higher, while income at Rs 207.7 crore stood 7 per cent higher than the comparable figures for the same quarter of 2008. The Indian arm of the Swedish engineering company has performed better than its counterparts in several other locations. Globally, Alfa Laval is 33 per cent lower in order intake, while it is as low as 50 per cent in parts of Asia and Brazil. “India is the only growing company in the Group in the Asian region,” Mr Nish Patel, Managing Director, said. Commenting on the results, Mr Patel said that the equipment division had been impacted by the slowdown, and the improved bottomline was because of the food process business. “The food business, especially vegetable oil, is booming,” he said, adding that fruit processing, an area that was recently brought back into the fold was also doing well. “Our equipment division, particularly the marine and refrigeration businesses are suffering,” he said. Amongst the other business areas hit were breweries and refineries. The company currently has orders worth Rs 635 crore, including Rs 360 crore in process technology, in hand. Mr Patel said that he expected the growth to continue in the second half of 2009. More Stories on : Engineering
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