Voltas Q3 consolidated net profit increases 12.64% to Rs 87.95 cr

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Tata group airconditioner maker Voltas Ltd on Friday reported a 12.64 per cent increase in its consolidated net profit at Rs 87.95 crore in the third quarter ended December 2019.

The company had posted a consolidated net profit of Rs 78.08 crore in the same quarter last fiscal, Voltas said in a regulatory filing.

Revenue from operations during the period under review stood at Rs 1,492.51 crore as against Rs 1,491.78 crore in the year-ago quarter, the company said.

Voltas said its revenue from unitary cooling products for comfort and commercial use segment increased 14 per cent at Rs 601 crore as compared to Rs 526 crore in the corresponding quarter last year. Air Coolers and other products also witnessed increased traction and healthy growth.

The company's electro-mechanical projects and services segment had a revenue of Rs 808 crore as compared to Rs 875 crore in the year-ago quarter primarily due to slow pace of execution of projects.

Carry forward order book of the segment was higher at Rs 7,024 crore, including major orders booked in water projects as compared to Rs 4,994 crore in the corresponding quarter last year, Voltas said.

Engineering products and services segment revenue remain unchanged at Rs 83 crore as compared to the previous year, the company added.