Voltas Q3 net profit falls 49.52% to Rs 54.19 crore

MUMBAI: Voltas, the air conditioning and engineering services provider of the Tata Group posted a 38.55% increase in income from operations at Rs 1301 crore for the quarter ended 31st December, 2015. However, profit before tax (PBT) was lower at Rs. 69 crores as compared to Rs. 121 crores last year partly due to net exceptional gain of Rs. 45 crores apart from lower other income driven by certain one off in last year, said the firm in a statement. Net Profit (after Minority Interest) was Rs. 54 crores as compared to Rs. 107 crores in same period last year.

Electro-Mechanical Projects and Services segment clocked revenue of Rs. 722 crores as compared to Rs. 461 crores in the corresponding quarter last year. However, Segment Result was negative Rs. 9 crores owing to an adverse international projects environment, as compared to Rs. 9 crores in the corresponding quarter last year, said the firm.

Scrips for Voltas closed at Rs 241. 15 down by 10.42% on Bombay Stock Exchange on Thursday.