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Mumbai, Oct 25 Tata Group company Voltas Ltd recorded a growth of 114 per cent in its net profit for the second quarter to Rs 53.58 crore compared with Rs 25 crore for the same period last year, owing to the focus on expanding business in construction and cost-cutting with a plant being shifted to Pantnagar, among other reasons.

The Pantnagar facility for central air-conditioning and commercial coolers is more of assembly than manufacturing and benefits from excise concessions, said Mr M.M. Miyajiwala, Executive Vice-President (Finance) and CFO.

The company’s electro-mechanical projects and service segment’s turnover increased by 34 per cent to Rs 420 crore and has an order book of Rs 2,695.

The engineering products and services segment comprising textile machinery saw revenue growth of 35 per cent, while unitary cooling products for comfort and commercial use segment registered a growth of 40 per cent in its revenues.

“Our international order book was Rs 2,000 crore and we are looking to expand business in the UAE,” he said.

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