Voltas Q3 net profit falls 49% to Rs 54 cr

Net sales during the quarter under review rose by 39% to Rs 1,301 crore

Tata group firm Voltas Ltd today reported 49.52% decline in consolidated net profit at Rs 54.19 crore for the December quarter.

The company had posted a consolidated net profit of Rs 107.37 crore in the same period last fiscal, Voltas said in a BSE filing.

Net sales during the quarter under review rose by 38.57% to Rs 1,301.14 crore as against Rs 938.97 crore in the year-ago period, it added.

The company has posted an exceptional income of Rs 2.18 crore in the third quarter of the current fiscal as against Rs 234.17 crore in the same period last fiscal.

Voltas said its electro-mechanical projects and services segment posted a revenue of Rs 722 crore as against Rs 461 crore in the same period last fiscal, but due to adverse international projects environment the "segment result was negative Rs 9 crore".

Order book of the segment stood at Rs 3,514 crore as against Rs 3,949 crore in the same period last fiscal.

Engineering products and services vertical clocked a revenue of Rs 111 crore, compared with Rs 25 crore in the year-ago period, while the unitary cooling products for commercial use saw revenue increase to Rs 435 crore during the quarter from Rs 384 crore in the year-ago period.

Voltas Ltd shares today closed 9.83% down at Rs 242.75 apiece on BSE.