Voltas Q2 net up 18% at Rs118 cr; full year profit vaults 51%to Rs384 cr

Voltas Limited, an air conditioning and engineering services provider of the Tata Group, has reported a consolidated net profit (after tax and minority interest) of Rs118 crore  for the quarter ended 31 March 2015, up 18 per cent compared to Rs100 crore reported in the corresponding quarter of the previous year.

The consolidated sales / income from operations for the quarter ended 31 March 2015 stood at Rs1,484 crore against Rs1,450 crore in the corresponding quarter of the previous year.

Operating profit for the quarter was higher by 30 per cent at Rs159 crore compared to Rs123 crore in the corresponding quarter of the previous year. Profit before tax (after exceptional items) was Rs. 161 crore for the current quarter as compared to Rs.140 crore in the corresponding quarter last year.

Net profit for the full year (after minority interest) was higher by 57 per cent at Rs384 crore compared Rs245 crore in the previous year. Profit before tax was up 57 per cent at Rs514 crore compared to Rs340 crore in the previous fiscal.

PBT, after considering a charge of Rs190 crore towards the onerous contract and also an exceptional income of Rs236 crore, stood at Rs514 crore.

The board has recommended dividend of Rs2.25 per share of Re1 each 225 per cent for the year ended 31 March 2015.

Consolidated sales/income from operations for the year 2014-15 was lower by 2 per cent at Rs5,144 crore against Rs5,244 crore in the previous year, primarily due to the project businesses.

However, operating profit for the year was significantly higher by 47 per cent at Rs467 crore for the year (compared to Rs318 crore last year) due to impressive performance of the products business. The company said in a release.