Voltas Q1 net drops 48% to Rs 40 cr

Tata group firm Voltas Ltd on Tuesday reported a 48.49 percent decline in its consolidated net profit for the first quarter that ended on June 30, 2013 at Rs. 40.75 crore.

The company had posted a consolidated net profit of Rs. 79.12 crore for the same period previous fiscal year.

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The company's consolidated net sales stood at Rs. 1,601.78 crore in the April-June quarter compared to Rs. 1,611.57 crore during the same period last year, it said in a filing to the BSE.

Consolidated revenue from its electro-mechanical projects and services segment was at Rs. 692.95 crore as against Rs. 741.30 crore in the year-ago quarter.

Its engineering products and services segment registered consolidated revenue of Rs. 111.17 crore as against Rs. 106.55 crore in the same quarter last fiscal year.

Voltas' unitary cooling products for comfort and commercial use' segment's consolidated revenue increased to Rs. 786.74 crores this quarter as against Rs. 754.38 crores in the year-ago period.

Shares in Voltas, on Tuesday, ended 0.53 percent higher at Rs. 76.45 on the BSE.