Voltas Q1 net profit jumps 53.7% to Rs 157.62 crore

However, shares of the company were trading 2.47% down at Rs 361.55 on BSE

Tata Group firm Voltas on Tuesday reported a 53.71% rise in consolidated net profit at Rs 157.62 crore for the June quarter on higher sales in products and projects business segments.

The company had posted a net profit of Rs 102.54 crore in the April-June quarter a year-ago, Voltas said in a BSE filing.

Its consolidated net sales were up 18.16% to Rs 1,844.81 crore during the quarter under review as against Rs 1,561.17 crore in the corresponding quarter of the preceding financial year.

Revenue from its electro-mechanical projects and services business stood at Rs 580.21 crore during the quarter under review, up 2.96%, as against Rs 563.51 crore in the year-ago period.

 

However, its revenue from engineering products and services segment was down 1.31% to Rs 69.14 crore as against Rs 70.06 crore in the same period a year ago.

Revenue from unitary cooling products for comfort and commercial use business stood at Rs 1,195.62 crore in the quarter under review, up 28.86%, compared with Rs 927.81 crore in the year-ago period.

Shares of the company were trading 2.47% down at Rs 361.55 on BSE.