• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney Invest Now master your money
Moneycontrol

Home » News » Earnings » Results

Feb 14, 2017, 09.01 PM | Source: PTI

Voltas Q3 net up 42.3% to Rs 81.56 crore

Tata Group firm Voltas today reported a 42.28 percent increase in consolidated net profit at Rs 81.56 crore for the December quarter on improved margins, tighter control on overheads and higher income from investments.

Like this story, share it with millions of investors on M3

Voltas Q3 net up 42.3% to Rs 81.56 crore

Tata Group firm Voltas today reported a 42.28 percent increase in consolidated net profit at Rs 81.56 crore for the December quarter on improved margins, tighter control on overheads and higher income from investments.

Post Your Comments

Share Cancel

| 1 Comments
Voltas Q3 net up 42.3% to Rs 81.56 crore
Tata Group firm Voltas today reported a 42.28 percent increase in consolidated net profit at Rs 81.56 crore for the December quarter on improved margins, tighter control on overheads and higher income from investments.

The company had a net profit of Rs 57.32 crore in the October-December quarter a year ago, Voltas said in a BSE filing.

However, Voltas' consolidated net sales were down 5.64 percent to Rs 1,194.17 crore during the quarter hit by demonetisation, as against Rs 1,265.58 crore in the corresponding quarter last fiscal.

Its total expenses were down 8.62 percent to Rs 1,117.12 crore as against Rs 1,222.57 crore.

"The short term impact of demonetization has weakened consumer and business sentiments. The consolidated gross sales from operations for the quarter ended December 31, 2016 were lower by 6 percent at Rs 1,194 crore as compared to Rs 1,266 crore in the corresponding quarter last year," the company said.

It further added: "However, profit before tax was significantly higher by 62 percent at Rs 125 crore as compared to Rs 77 crore last year due to improved margins, tighter control on overheads and higher income from investments." Revenue from its Electro-mechanical Projects and Services business stood at Rs 702.58 crore during the quarter under review, down 2.89 percent, as against Rs 723.55 crore in the year-ago period.

Its revenue from Engineering Products and Services segment was down 27.56 percent to Rs 80.74 crore as against Rs 111.47 crore in the same period a year ago.

Revenue from Unitary Cooling Products for Comfort and Commercial Use business stood at Rs 411.07 crore in the quarter under review, down 4.55 percent, compared with Rs 430.67 crore in the year-ago period.

"The segment had grown strongly from April 2016 to October 2016 but was negatively impacted after demonetisation.

There was a decline in sales by 5 percent and was Rs 411 crore as compared to Rs 431 crore in last year," Voltas said.

Shares of Voltas today settled at Rs 342.00 on BSE, up 0.71 percent from previous close.

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login