A decline in the revenues of the engineering products and services segment on account of a slowdown in the economy saw ’Tata group company Voltas today report a dip of 5 per cent in its net profit to Rs 80 crore, over the same period last year.
The company had a net profit of Rs 84 crore June quarter of 2008.
Total income of the company rose by 18 per cent to Rs 1248 crore for the year ended March 2009, from Rs 1058 crore for the same period ended June 2009.
Operating Profit (Profit before Tax and Exceptional Items) increased by 11 per cent to Rs115 crore as against Rs104 crore in the same period last year.
The Company’s Electro-mechanical Projects and Services segment’s revenues grew by 45 per cent to Rs 700 crore. The order book of this segment stands at Rs 4666 crore.
The Engineering Products and Services segment’s revenues declined by 16 per cent to Rs114 crore, impacted by the continuous slowdown in demand for capital equipment.
The Unitary Cooling Products for Comfort and Commercial Use segment’s revenues grew by 3.5 per cent to Rs 415
Shares of Voltas closed at Rs 137.15, down 238 per cent over previous close on the BSE.
