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Our Bureau

Mumbai July 21 Tata Group company, Voltas, a global air-conditioning and engineering service provider, has reported a 63 per cent increase in net profit for the quarter ended June 30, 2008, to touch Rs 85.13 crore, against Rs 52.16 crore in the corresponding quarter of the previous fiscal.

However, during the quarter, the company reported an exceptional item of Rs 23 crore that involved assignment of leasehold rights on a property in Hyderabad.

During the quarter, its sales from operations were up by 22 per cent to reach Rs 1,017 crore. Its total order book position stood at Rs 5,923 crore at the end of the quarter, up by 165 per cent.

Mr M.M. Miyajiwala, Executive Vice-President (Finance), told Business Line that the air-conditioning business was the principal growth driver during the quarter.

“Air-conditioning business is usually the highest in the first quarter of any fiscal and second highest in the last quarter,” he pointed out.

More Stories on : Air-conditioners & Refrigerators

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