Voltamp Transformers Ltd, one of the leading transformers makers in India, has deferred the construction work of its new manufacturing facility at Savli in Vadodara to save cost.
"The construction of the new facility for manufacturing transformers at Savli has been delayed by five months and it is likely to be operational by August 2009. By deferring the project, the estimated cost of setting up the unit will be around Rs. 27 crore as against the budgeted cost of Rs. 35 crore," said Kunjal Patel, MD, Voltamp Transformers.
Meanwhile, the company's net profit for quarter ended March 2009 increased by 39.58 per cent to Rs. 30.19 crore as against Rs. 21.63 crore for the corresponding period last fiscal. It also reported a rise in its net sales at Rs. 643.06 crore for the financial year ended 31 March, 2009 as compared to Rs. 555.35 crore last financial year.