Voltas reports 31% increase in second quarter profit at Rs 104.29 crore

Tata group air conditioning and engineering services firm Voltas on Friday reported 31 per cent increase in consolidated net profit at Rs 104.29 crore in the second quarter ended September 30, 2021.

The company has posted a consolidated net profit of Rs 79.66 crore in the same period last fiscal, Voltas said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 1,689.08 crore as against Rs 1,612.54 crore in the corresponding period last fiscal, it added.

During the quarter, the company said its unitary cooling products business made good recovery and achieved overall volume growth of 24 per cent, contributed by growth of 19 per cent in room air conditioners (AC), 31 per cent in commercial refrigeration products and 78 per cent in air coolers.

Segment revenue increased by 34 per cent and was at Rs 1,007 crore as compared to Rs 750 crore in the corresponding quarter last year, the company said.

Voltas said its electro-mechanical projects and services segment revenue for the quarter was at Rs 536 crore as compared to Rs 744 crore in the corresponding quarter last year.

On the other hand, the engineering products and services segment clocked revenue of Rs 125 crore as compared to Rs 93 crore in the year-ago quarter.