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Our Bureau

Mumbai May 14 Voltas Ltd has posted five-fold rise in fourth-quarter net profit to Rs 119.90 crore (Rs 23.73 crore) following improved performance by the electromechanical, engineering and cooling divisions.

Net sales rose 38 per cent to Rs 730 crore (Rs 530 crore).

For the year ended March, net profit rose 163.98 per cent to Rs 186.08 crore (Rs 70.49 crore), while net sales rose 29.53 per cent to Rs 2,400.55 crore (Rs 1,853.14 crore).

Mr M.M. Miyajiwala, Executive Vice-President (Finance) and CFO, attributed the growth to the rise in the number of multiplexes and rising demand from airports and hospitals.

In the electromechanical projects and services segment, the company bagged some international orders, including from the Bahrain City Centre and the Interim Doha Convention Centre, Qatar.

The board of directors has declared a dividend of 100 per cent on equity shares of one rupee each.

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