Voltas PAT up 5 fold at Rs 120 cr

CORPORATE SCORECARD

Voltas, the Tata group's cooling products company, today reported a five-fold increase in net profit at Rs 120 crore for the fourth quarter ended March 2007, on the back of better performance by the company's electro mechanical, engineering and cooling divisions.

The profit was boosted by an exceptional income of Rs 65 crore arising from the divestment of Simtool, a subsidiary of the company. The company's net sales increased by 38 per cent to Rs 730 crore for the quarter compared with Rs 530 crore in the corresponding quarter a year ago.

The board also declared a dividend of 100 per cent on equity shares of Re 1 each for the year ended March 31, 2007.

In FY07, the profit after tax grew to Rs 186 crore against Rs 70 crore in the previous year. Net sales increased by 29 per cent to Rs 2,451 crore compared with Rs 1,904 crore in the previous year.

The electro-mechanical projects and services segment grew by 21 per cent, while the engineering products and services segment registered a growth of 71 per cent during the year ended March 31. The electro-mechanical division bagged several international projects in the West Asia, including the Bahrain City Centre, Etihad Towers township in Abu Dhabi.