Voltas has 24 pc market share in room airconditioner business
Voltas has 24 pc market share in room airconditioner business

Voltas Q1 net profit slips by 11 pc at Rs 166 crore

ANI | Updated: Aug 07, 2019 18:03 IST

Mumbai (Maharashtra) [India], Aug 7 (ANI): Voltas Ltd, the air conditioning and engineering services arm of Tata Group, on Wednesday reported 11 per cent decline in consolidated net profit to Rs 166 crore during April to June from Rs 187 crore in the same quarter last fiscal.
Total income stood at Rs 2,697 crore as against Rs 2,176 crore in the year-ago period.
Voltas said its room air-conditioning business marked growth in sales volumes and the segment's revenue jumped by 47 per cent to Rs 1,749 crore as compared to Rs 1,191 crore in Q1 FY19.
Commercial refrigeration products and air coolers also witnessed increased traction and healthy growth with segment result higher by 54 per cent at Rs 230 crore as compared to Rs 149 crore in the corresponding quarter of last year.
The company said that its electro-mechanical projects and services segment clocked a revenue of Rs 824 crore in Q1 FY20 compared to Rs 866 crore in Q1 FY19. The engineering products and services segment revenue was at Rs 74 crore over Rs 77 crore in the year-ago period. (ANI)

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