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Our businesses > Tata companies > Voltas > Media releases |
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October 31, 2001
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Voltas Limited
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Unaudited
financial results (provisional) for three
months ended 30th September 2001
| Sr.
No |
Particulars |
Three
months ended on 30.09.2001 Rs. lakhs |
Three
months ended on 30.09.2000
Rs. lakhs |
Six
months ended 30.09.2001 |
Six
months ended 30.09.2000 |
Year
ended
31.03.2001 (Audited) Rs. lakhs |
| 1 |
Net
sales / income from operations |
21049 |
18977 |
46571 |
41582 |
85372 |
| 2 |
Other
Income |
392 |
527 |
604 |
739 |
1409 |
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| 3 |
Total
expenditure |
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(a)
Increase / decerase in stock-in-trade |
(2071) |
(861) |
(574) |
894 |
(14) |
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(b)
Consumption of raw materials |
14054 |
12388 |
29598 |
24818 |
52994 |
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(c)
Staff cost |
2838 |
2347 |
5270 |
4974 |
10030 |
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(d)
Excise duty |
1963 |
2055 |
4364 |
4395 |
8916 |
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(e)
Other expenditure |
3340 |
2705 |
5933 |
4992 |
10694 |
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Total |
20124 |
18634 |
44591 |
40073 |
82620 |
| 4 |
Net
Interest |
74 |
360 |
333 |
813 |
963 |
| 5 |
Depreciation |
399 |
360 |
842 |
727 |
1479 |
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| 6 |
Profit
before tax and extraordinary
income (expenses) |
844 |
150 |
1409 |
708 |
1719 |
| 7 |
Extraordinary
items (net) |
(397) |
310 |
(782) |
(146) |
1147 |
| 8 |
Provision
before taxation |
447 |
460 |
627 |
562 |
572 |
| 9 |
Provision
for taxation - current |
164 |
20 |
175 |
50 |
14 |
| 10 |
Provision
for taxation - deffered |
(73) |
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(81) |
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- |
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| 11 |
Profit
after tax |
356 |
440 |
533 |
512 |
558 |
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| 12 |
Paid-up
equity share capital |
3305 |
3305 |
3305 |
3305 |
3305 |
| 13 |
Reserves
excluding revaluation reserves |
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12202 |
| 14 |
Basic
and dilited earning per share (Rs.) |
3305 |
1.33 |
1.61 |
1.55 |
1.69 |
| 15 |
Aggregate
of non-promoter shareholdings |
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Number of shares |
26125824 |
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26,457,560 |
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Percentage of shareholding |
78.96% |
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79.96% |
Notes
- Earnings per share for the three months
and six months ended 30th September, 2001
and 30th September, 2000 are for the respective
periods (not annualised).
- Extraordinary Items (Net) for the quarter
ended 30th September, 2001 comprise amortisation
of VRS expenses - Rs.717 lakhs (quarter
ended 30th September, 2000 : Rs.541 lakhs),
Provision for diminution in value of investments
- Rs.606 lakhs (quarter ended 30th September,
2000 : Rs. 1278 lakhs), Loss on sale of
investment net of provision made in the
past - Rs. 300 lakhs (quarter ended 30th
September, 2000 : Profit of Rs. 1820 lakhs),
Profit on sale of property/undertaking
- Rs. 1943 lakhs (quarter ended 30th September,
2000 : Nil), Reversal of warranty provision
- Nil (quarter ended 30th September, 2000
: Rs. 309 lakhs), Provision against advances
to subsidiaries - Rs.717 lakhs (quarter
ended 30th September, 2000 : Nil)
- Accounting standard 22 relating to Accounting
for Taxes on Income is mandatory effective
1st April, 2001. In accordance with the
requirements of this standard, Tax effect
of timing difference arising during the
current quarter of Rs.73 lakhs has been
accounted.
Net deferred tax asset pertaining to the
period prior to 1st April, 2001 amounting
to Rs.1156 lakhs (as revised from Rs.3329
lakhs reported in the quarter ended 30th
June, 2001) has been added to the Reserves
as at 1st April, 2001 and the reserves
as on 1st April, 2001 have increased to
Rs. 13358 lakhs.
- As per Bombay High Courts order received
on 20th September, 2001 Voltas International
Ltd. (VIL), a wholly owned subsidiary
of Voltas Limited has been merged with
the Company effective 1st April, 2001.
The results for the current quarter includes
results of Voltas International Ltd. for
the six months ended 30th September, 2001
as given below :
Rs.
In lakhs
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| Net
Sales / Income from Operations |
5755 |
| Total
Expenditure |
4636 |
| Profit
before tax and Extraordinary Income
/ (Expenses) |
1280 |
| Provision
for taxation |
172 |
| Profit
after tax |
1108 |
- Provision for taxation - Current, consists
of foreign income tax of Rs.172 lakhs
and wealth tax of Rs. 3 lakhs.
- The Company has sold 74% of its shareholding
in Voltas Switchgear Ltd. during the current
quarter and accordingly, Voltas Switchgear
Ltd. ceased to be a subsidiary of the
Company.
- Figures in the corresponding period
last year have been regrouped for making
them comparable.
- The above results have been taken on
record by the Board of Directors at its
Meeting held on 25th October, 2001.
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| Dated:
25 Oct, 2001 |
N. D. Khurody
Managing Director
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