Voltas net profit falls 27 pc to Rs 141.74 cr in March quarter

Tata Group firm Voltas Ltd Thursday said its consolidated net profit has fallen a 27 per cent to Rs 141.74 crore for the fourth quarter ended March 2019. The company had posted a net profit of Rs 194.19 crore in the January-March quarter a year ago, Voltas said in a BSE filing. Its total income during the quarter was Rs 2,120.22 crore, a rise of 1.34 per cent as against Rs 2,092.17 crore of the corresponding quarter of the previous fiscal.

Voltas' total expense was Rs 1,935.09 crore in January-March 2019, compared with Rs 1,805.63 crore in the year-ago period, up 7.16 per cent. Voltas' revenue from the Unitary Cooling Products for Comfort and Commercial Use segment was down 6.28 per cent to Rs 997.57 crore as against Rs 1,064.49 crore. The electromechanical projects and services segment rose 11.72 per cent to Rs 976 crore as against Rs 873.54 crore.

Its engineering products and services stood at Rs 78.47 crore, down 5.95 per cent, as against Rs 83.44 crore. For the entire financial year 2018-19, Voltas net profit stood at Rs 513.88 crore, down 11.07 per cent, as against Rs 577.90 crore in the previous year. In 2018-19, Voltas' total income rose 10.72 per cent to Rs 7,310.32 crore, compared with Rs 6,602 crore in 2017-18.

In a separate filing, Voltas said its board in a meeting on Thursday recommended a dividend of Rs 4 per share on a face value of Re 1 per share for 2018-19. Shares of Voltas Ltd Thursday settled at Rs 573.20 apiece on the BSE, down 0.28 per cent from the previous close.