Balmer Lawrie eyes tourism firm

Kolkata, May 29 (IANS) Public sector Balmer Lawrie is in "active discussion" with an Indian tour operating firm, having tourism business in the Far East countries and South Africa, in order to acquire it, a company official said Wednesday.

"We are in an active discussion with a tour company and if materialised, it will be a middle-level acquisition," Balmer Lawrie chairman and managing director Viren Sinha told mediapersons here.

The Mini Ratna PSU firm said the acquisition would help it grow its tourism business in the Far East countries as well as in South Africa.

"The company with which we are in conversation is dealing with tour package primarily in Europe, Far East and South Africa," Sinha said.

The diversified public sector company has posted a 40.95 percent hike in its net profit to Rs.50.25 crore for the fourth quarter last fiscal from Rs.35.65 crore for the same period previous fiscal.

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