Voltas net profit stays flat at Rs 43 cr

A A

Press Trust of India: Mumbai, Nov 06 2012, 02:05 IST

Air-conditioner-maker Voltas today reported a rise of 2.53 per cent in consolidated net profit to Rs 42.53 for the July-September quarter and said margins, especially in international business, continue to remain under pressure.

The company had posted a net profit of Rs 41.87 crore in the same period last year.

Net sales rose 5 per cent to Rs 1,160 crore in the period, up from Rs 1,102 crore a year ago, the Tata Group firm said in a statement.

Revenue from the electro-mechanical projects and services rose to Rs 778 crore from Rs 762 crore in the same quarter last year.

"While the turnover in international business was higher, domestic projects did witness some slowdown in execution, resulting in drop in turnover.

"The margins continue to remain under pressure, especially in international business due to cost overruns of the projects," the company said.

Revenue from engineering products and services was down at Rs 114 crore against Rs 120 crore, while those from unitary cooling products for comfort and commercial rose to Rs 257 crore from Rs 211 crore.

Citing GfK-Nielsen data, the company claimed that it continues to retain its market leadership in room air-conditioners.

Ads by Google