Voltas' Q3 net profit up by 84% to Rs.5.23 crores

Mumbai, 30th January 2004: Voltas Limited, the airconditioning and engineering services Company of the Tata Group, has announced its financial results for the quarter ended December 2003.

The Company's net profit rose by 83.5% to Rs. 5.23 crores as against Rs. 2.85 crores in corresponding quarter last year.

The Company has posted a turnover of Rs. 253.84 crores as against Rs. 264.05 crores in the corresponding quarter last year.

Additionally, in line with the new accounting standards, the Company has charged off Rs.19.59 crores in the quarter under review towards VRS. Consequently, the profit before tax for the quarter and nine months ended December 31, 2003 is lower by Rs.18.47 crores.

The Company's order book position as on December 31, 2003 stands at Rs. 1602.32 crores.

The Company's nine months ended December 2003 net profit rose by 50.08% to Rs.19.72 crores as compared to Rs.13.14 crores in the corresponding period of previous year.

The turnover in the nine months increased to Rs.922.54 crores as compared to Rs.851.92 crores in the previous year.



Financial Results