Voltas Net Profit Trails Sales Growth

Disclosing the figures at the company's forty-second annual general meeting held in Mumbai yesterday, chairman A H Tobaccowala said the second half of the year would be better. The company would make optimum use of its plant, machinery and real estate to improve its second-half performance.

There is a huge gap between the installed and the utilised capacities of the company. Capacity additions were made last year, but the marginal growth in the white goods' industry seems to have hampered the company. Only the frost-free segment is showing growth, but Voltas has just entered this segment.

A sizeable number of Voltas employees present at the annual general meeting resented the alleged company move to lease out properties.

 

Protests were also made regarding the attempt to contract out manufacturing in certain segments, allegedly at the cost of under-utilising trained staff and employees.