Tata Group firm Voltas Posts 54% Jump In Q1 Profit

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Tata Group firm Voltas on Tuesday reported a 53.71 per cent rise in consolidated net profit at Rs 157.62 crore for the June quarter on higher sales in products and projects business segments. The company had posted a net profit of Rs 102.54 crore for the April-June quarter a year ago, Voltas said in a filing to the BSE. Consolidated net sales were up 18.16 per cent at Rs 1,844.81 crore during the quarter under review as against Rs 1,561.17 crore in the corresponding quarter of the preceding fiscal year. Revenue from its electro-mechanical projects and services business stood at Rs 580.21 crore in the quarter under review, up 2.96 per cent compared to Rs 563.51 crore in the year-ago period. However, its revenue from engineering products and services segment was down 1.31 per cent at Rs 69.14 crore as against Rs 70.06 crore in the corresponding period a year ago. Revenue from unitary cooling products for comfort and commercial use business stood at Rs 1,195.62 crore in the quarter under review, up 28.86 per cent, compared with Rs 927.81 crore in the year-ago period. At 3:08 p.m., shares in Voltas were trading 1 per cent lower at Rs 367 apiece on the BSE, whose benchmark Sensex index was down 0.06 per cent.

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