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Turnover of the public sector enterprise Balmer Lawrie & Co Ltd has crossed the Rs 2,000-crore mark for the first time. It reported 2010-11 net income at Rs 2,050 crore, registering a 23 per cent growth. The net profit at Rs 121 crore, however, saw a modest growth of 3 per cent on account of higher provisioning for tax as compared to the previous year arising from a one-time write-back of Rs 20 crore, a company release said. “Eliminating such one-time write back, the growth in net profit would be 24 per cent”, the release added. It recommended a dividend of 260 per cent or Rs 26 a share for the year.
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