Voltas gains on robust Q4 operating profits

Shares of Voltas gained nearly 4% to Rs 186.6 after the operating profits for the quarter ended March 31, 2014 was significantly higher by 58% at Rs 123 crores as compared to Rs 78 crores for the corresponding period previous year.

Profit before tax (after exceptional items) was Rs 140 crores for the current quarter as against Rs 14 crores in the corresponding quarter last year.

Due to the impressive performance of the Project businesses, operating profit was higher by 19%, at Rs 318 crores for the present year as compared to Rs 268 crores last year.

Meanwhile, the board of Directors have recommended dividend of Rs 1.85 per share of Re 1/- each for the year ended 31st March,2014, including  special diamond jubilee dividend of 25%.

The stock opened at Rs 187.35, touched a high of Rs 188 and a low of Rs 185  on the BSE. Over 3,109,564 shares were traded on both the stock exchanges so far.