Voltas Q2 PAT seen down 13% at Rs 63 cr

Voltas is expected to report a consolidated profit after tax of Rs 63 crore in the second quarter of FY12, a fall of 13% as compared to Rs 72 crore in a year ago period (PAT is pre-exceptional and pre-minority interest).

Total income is seen going up 7% to Rs 1,138 crore from Rs 1,065 crore during the same period.

EBITDA is likely to fall 22% to Rs 83 crore in the July-September quarter of FY12 versus Rs 107 crore in the corresponding quarter of last fiscal.

Operating profit margin is expected to be at 7.33% versus 10.10% year-on-year.

Expectations

Expect continued pressure w.r.t unitary cooling products and engineering & mechanical projects

Increasing competition is impacting margins in the international projects biz

Further, entry of international players in the domestic air-conditioning market will lower margins in cooling products segment

Provisions relating to Qatar project delays could lead to margin risks

Watch out for: Order inflow