The consolidated net profit of Tata group firm Voltas for the third quarter of fiscal year 2011 slumped 6.8% to Rs 70.5 crore from Rs 75.7 crore in the same period last year. Operating profit margin too dropped to 7.6% as against 9.1% on year-on-year basis.
Consolidated net sales, however, went up by 5.3% to Rs 1,039 crore from Rs 987 crore (YoY). In his address to the press, executive vice-president of finance at Voltas MM Miyajiwala said the company should have a healthy start to fiscal year 2012. He continues to be confident of pick up in the electromechanical business in future quarters. For his complete address to the press, watch video.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
