Financial Daily from THE HINDU group of publications
Saturday, Jul 31, 2004
Financial Daily from THE HINDU group of publications Saturday, Jul 31, 2004 |
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Corporate Results
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Air-conditioners & Refrigerators Voltas posts 41 pc rise in net profit Our Bureau
MUMBAI: Voltas Ltd, the air conditioning and engineering services company of the Tata Group, has posted a 41 per cent increase in its June quarter net profit at Rs 14.42 crore from Rs 10.19 crore in the year-ago period. However, its turnover was lower by nine per cent at Rs 345.80 crore in the current quarter as compared to Rs 380.01 crore in the corresponding quarter last year. This was due to lower revenue in electro-mechanical projects and services segment. ``Some of the electro mechanical contracts recently secured are in the preliminary stage of execution, resulting in lower revenue in the current quarter as compared to the revenue in the corresponding quarter,'' Voltas said in a news release. Operating profit increased by 28 per cent to Rs 13.90 crore for this quarter (Rs 10.85 crore).
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