Voltas doubles PAT over last two years
Q4 net profit up by 18.23 %, net sales up by 22.66 %, operating profit up by 28.03%, board declares 50% dividend
June 21, 2005

The board of directors of Voltas, a Tata enterprise have today announced the audited financial results including the consolidated financial results and segment report for the year ended March 31, 2005.

The directors have also recommended an increased dividend of 50 per cent for the year ended March 31, 2005 (previous year 30 per cent) including special golden jubilee dividend of 15 per cent, on the equity shares of Rs 10 each of the company.

The company has posted a significant performance increase in the quarter as well as the year ended March 31, 2005.

Over the last two years the company has almost doubled its profit after tax. For the FY04-05, Voltas reported highest ever net profit after tax of Rs 5,041 lakh, as compared to Rs 3,903 lakh, an increase of 29.16 per cent over the previous year. The net sales increased by 8.38 per cent to Rs 144,143 lakh as compared to Rs 132,994 lakh. The operating profit increased by 42.29 per cent to Rs 5,262 lakh as against Rs 3698 lakh.

Most of the company’s businesses have performed well during the quarter ended March 2005 and the company registered an 18.23 per cent increase in net profit after tax to Rs 2,283 lakh as against Rs 1,931 lakh in the corresponding quarter of the previous year. Operating profit (profit before tax and exceptional items) increased by 28.03 per cent to Rs 2,197 lakh as against Rs 1,716 lakh over the corresponding quarter of the previous year.

The company’s net sales for the quarter rose by 22.66 per cent to Rs 49,970 lakh as against Rs 40,740 lakh in the corresponding quarter of the previous year. The company’s performance was driven by strong growth in electro-mechanical project and services segment (42.56 per cent); the engineering agency and services segment (35.15 per cent) and others (31.85 per cent).