Voltas Profit After Tax Dips To Rs 5.49 Crore

Tata group engineering major Voltas has posted a lower profit after tax at Rs 5.49 crore for fiscal 1999-00 compared with Rs 12.79 crore in the previous fiscal. Net profit in the previous year was higher on account sale of operating divisions. The company's turnover also declined to Rs 824.33 crore from Rs 984.28 crore, but the 1998-99 figures are not comparable as it included turnover of the chemicals unit and part white goods division, which were sold subsequently. Voltas' operating profit (before extraordinary items) was higher at Rs 6.9 crore against a loss of Rs 11.92 crore in the year before. The turnover of the continuing businesses has registered an increase of 6 per cent, while other income has risen 15 per cent to Rs 16.67 crore.