Voltas' net profit rises 7.2% in September quarter

The Tata group company Voltas Ltd. on Wednesday reported a 7.2 per cent increase in its consolidated net profit to Rs 72.11 crore in the quarter ended September 30, 2016, as compared to Rs 67.26 crore in the year-ago period.

The consolidated income from operations for the quarter was Rs 972 crore, down by 6.8 per cent as against Rs 1,044 crore in the corresponding quarter last year owing to lower revenues in international projects.

In the segment of electro-mechanical projects and services, revenue for the quarter was lower at Rs 543 crore as compared to Rs 635 crore in the year-ago period, partly owing to slower than expected progress on certain projects.

In the engineering products and services segment, revenue was Rs 75 crore as compared to Rs 96 crore.

"The industrial environment in India for both, textile and mining businesses remains challenging for capital equipment sales due to the weak investment cycle," the company said.

Revenue in unitary cooling products for comfort and commercial use was higher at Rs 354 crore as compared to Rs 312 crore in the corresponding quarter last year, on account of improved volumes and greater festive season demand, it added.

--IANS

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