Voltas posts highest ever Operating Profit (Profit Before Tax & Extraordinary Items) of Rs.24.06 crores

Mumbai, 27th June, 2003: The Board of Directors of Voltas Limited,a Tata Enterprise, have today announced the Audited Financial Results including the Consolidated Financial Results and Segment Report for the year ended 31st March, 2003.

The Directors have also recommended an increased Dividend of 25% on the equity shares of Rs.10/- each of the Company, as against 18% last year.
The Company has posted a turnover of Rs.1230.41 crores as against Rs.940.66 crores, a 31% increase over last year.

Despite an additional one-time retirement benefit provision of Rs.6.34 crores, the Company has shown the highest ever Operating Profit (Profit Before Tax & Extraordinary Items) of Rs.24.06 crores as against Rs.18.17 crores last year, an increase of 32%. The interest cost has reduced sharply from Rs.5.51 crores to Rs.2.55 crores, a reduction of 54%. The Company has turned EVA positive after many years.

The Profit After Tax of the Company has gone up significantly by 52%, to Rs.25.58 crores as against Rs.16.83 crores, in the previous year.



Financial Results