Voltas' Q2 consolidated net profit up 22%

Tata group company Voltas on Wednesday said its consolidated net profit rose by 22 per cent to Rs 95.36 crore during the second quarter of 2017-18.

The net profit of the company for the same quarter during the 2016-17 was reported at Rs 78.16 crore.

"The consolidated sales/income from operations for the quarter ended September 30, 2017 was higher by six per cent at Rs 1,032 crore as compared to Rs 972 crore in the corresponding quarter last year," Voltas said in a statement.

In the electro-mechanical projects and services segment, revenue for the quarter was higher at Rs 557 crore as compared to Rs 543 crore in the corresponding quarter last year.

"Order book of the segment stood higher at Rs 5,000 crore as at September 30, 2017 as compared to Rs 4,252 crore in the corresponding quarter last year. The strategy to focus on government sector projects has the helped the domestic project business in garnering more orders," the statement said.

"New orders booked during the current quarter was Rs 670 crore," it added.

In the segment of engineering products and services, revenue and result for the quarter were lower at Rs 67 crore and Rs 28 crore respectively during the same quarter of 2016-17, due to GST related disruptions in textile industry.

Revenue in unitary cooling products for comfort and commercial use was higher at Rs 408 crore as compared to Rs 354 crore in the corresponding quarter last year.

--IANS

ppg/vd