Tata Group firm Voltas today reported 7.21 per cent increase in consolidated net profit at Rs 72.11 crore for the quarter ended on September 30, 2016.
The company had a net profit of Rs 67.26 crore in the July-September quarter a year ago, Voltas said in a BSE filing.
However, Voltas' total income on consolidated basis was down 6.23 per cent to Rs 981.46 crore during the quarter under the review as against Rs 1,046.68 crore in the corresponding quarter last fiscal due to lower revenues in international projects.
Its total expenses were down 7.02 per cent to Rs 919.11 crore as against Rs 988.57 crore.
Revenue from its electro-mechanical projects and services was at Rs 543.24 crore during the quarter, down 14.52 per cent as against Rs 635.52 crore, owing to slower than expected progress on certain projects.
Its revenue from engineering products and services was down 21.92 per cent to Rs 75.10 crore as against Rs 96.19 crore.
Revenue of unitary cooling products for comfort and commercial use was at Rs 354.16 crore, up 13.48 per cent as against Rs 312.08 crore.
"Segment Revenue was higher at Rs 354 crores as compared to Rs 312 crores in the corresponding quarter last year, on account of improved volumes and greater festive season demand," Voltas said.
In the first half of 2016-17, Voltas' consolidated net profit was up 35.29 per cent to Rs 229.73 crore as against Rs 169.80 crore in the year-ago period.
"Led by higher sales of Unitary Cooling Products, Profit before tax was higher by 40 per cent at Rs 350 crore as compared to Rs 249 crores last year," it added.
Voltas' total income in the first half of the current fiscal was up 8.64 per cent at Rs 2,836.64 crore as against Rs 2,610.95 crore in the same period last year.
Shares of Voltas Ltd today settled at Rs 328.25 on BSE, up 2.13 per cent from previous close.
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