Voltas Q3 PAT up by 143 per cent; sales up by 17 per cent; PBT up by 109 per cent
January 25, 2008

The board of directors of Voltas, the air conditioning and engineering services company of the Tata Group, today announced the unaudited financial results including the segment report, for the quarter ended and nine months ended December 31, 2007.

Highlights

• Profit after tax at Rs47.22 crore, up by 143 per cent
• Sales/Income from Operations at Rs676.80 crore, up by 17 per cent
• Profit Before Tax at Rs68.87 crore, up by 109 per cent
• Total order book of Electro-mechanical Projects and Services segment at Rs3504.85 crore, up by 44 per cent

Quarter ended December 31, 2007
The company’s sales / income from operations rose by 17 per cent to Rs676.80 crore, as against Rs580.86 crore in the same period last year. Profit before tax rose by 109 per cent to Rs68.87 crore as against Rs33.01 crore in the same period last year. Profit after tax rose by 143 per cent to Rs47.22 crore as compared to Rs19.43 crore in the same period last year.

The company’s electro-mechanical projects and services segment’s revenues grew by 6 per cent due to some delays in the execution of international projects. However, the order book of Rs3504.85 crore, (representing growth of 44 per cent over the corresponding period in the previous year) reflects a positive future growth prospects.

The engineering products and services segment registered a revenue growth of 37 per cent. The major contributor has been mining and construction equipment which grew by 98 per cent and textile machinery by 19 per cent.

The unitary cooling products for comfort and commercial use segment registered a revenue growth of 39 per cent. The air conditioner business grew by 36 per cent in volume, and water coolers and dispensers grew by 23 per cent in volume.

Nine months ended December 31, 2007
The company’s sales / income from operations grew by 30 per cent to Rs2232.61 crore as against Rs1720.80 crore in the corresponding period last year. Profit before tax rose by 133 per cent to Rs227.88 crore as against Rs97.78 crore in the same period last year. Profit after tax rose by 131 per cent to Rs152.96 crore as compared to Rs66.18 crore in the same period last year.