Voltas registers a profit of Rs 120 crore for quarter year

Mumbai, may 14 (UNI) Tata group promoted Voltas limited has posted a profit of Rs 120 crore for for the quarter ended march 31 as against Rs 24 crore in the curresponding period in past year.

The company has also grabbed a substantial growth of 62 percent in operating profits which is at Rs 60 crore whereas the net sales scaled up to Rs 730 crore up by 38 percent for the same period, said the companies annual report.

For the full year, the profit after tax (PAT) has grown 164 percent to Rs 186 crore where the net sales went up to Rs 2451 crore. The company has also recommended a 100 percent divident for the full year.

'' The profit growth has been largely contributed from the electro-mechanical segment which yielded a revenue of Rs 1370.84 crore for the full year with a 50 percent growth making up around 55 percent of the net income '', said M M Miyajiwala, Executive vice president (finance).

The company has also been benefited hugely from its international operations that include Bahrain city centre project and Interim Doha convention center project, Qatar.

In the engineering products and projects segment, the company posted a quarterly increase of 52 percent to Rs 127 crore while the Unitary business segment grew by 11 percent to contribute Rs 156 crore to the net revenue.

Voltas had acquired 25 percent stakes in Germen firm Terrat for the production and distributuion of coolers, said sources.

UNI