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Voltas Q1 Net Down 11 Percent At Rs 166.32 Crore

Tata Group’s air conditioning and engineering services provider Voltas on August 7 reported 11 percent decline in consolidated net profit to Rs 166.32 crore for the first quarter ended June 30.

The company had posted consolidated net profit of Rs 187.06 crore in the same quarter last fiscal, Voltas said in a regulatory filing.

Total income during the quarter under review stood at Rs 2,697.27 crore as against Rs 2,176.30 crore in the year-ago period, it added.

Voltas said its room air-conditioning business witnessed growth in sales volumes and the segment’s revenue increased by 47 percent to Rs 1,749 crore as compared to Rs 1,191 crore in the corresponding quarter last year.

Commercial refrigeration products and air coolers also witnessed higher traction and healthy growth, it added.

Engineering products and services segment revenue was at Rs 74 crore, over Rs 77 crore in the year-ago period.

The company further said its electro-mechanical projects and services segment clocked a revenue of Rs 824 crore during the quarter as compared to Rs 866 crore in the corresponding quarter last year.―Money Control

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