The Hindu Business Line : Voltas posts 4 pc net profit growth in Q4

Net sales during the quarter rose by 6.15 per cent to Rs 530.45 crore for the quarter ended March 31, 2006 (Rs 499.70 crore). Operating profit rose by 67 per cent to Rs 36.72 crore.

The directors have recommended a dividend of 60 per cent for the year.

For the full year, profit after tax rose by 40 per cent to Rs 70.49 crore and net sales were up 32 per cent to Rs 1,904.18 crore.

The company took a charge of Rs 65 crore for VRS at its Hyderabad plant.

The company's electro-mechanical projects and services segment grew by 51 per cent.

The order book stands at about Rs 1,850 crore (Rs 1,236 crore). The engineering products and services segment grew by 58 per cent.

Textile machinery business grew by 45 per cent, while materials handling business showed 52 per cent growth in sales volume of forklifts.

Mining and construction equipment business sustained its upward trend. In the unitary products business, air-conditioner sales grew by 43 per cent.

The company is in the process of expanding its manufacturing capacity by setting up two plants in Uttaranchal.

Shares of Voltas ended 1.63 per cent up at Rs 1,053.25 on the Bombay Stock Exchange.

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