OREANDA-NEWS. November 9, 2011. The board of directors of Voltas, a Tata enterprise announced the unaudited consolidated financial results and segment report for the quarter ended September 30, 2011.

Consolidated results – highlights

Quarter ended September, 30, 2011

• Sales / income from operations at Rs1,108 crore.

• Operating profit at Rs34 crore.

• Profit before tax at Rs59 crore.

• Profit after tax and minority interest at Rs42 crore.

• EPS (*not annualised) at Rs1.27 on face value of Re1.

Six months ended September 30, 2011

• Sales / income from operations at Rs2,462 crore.

• Operating profit at Rs143 crore.

• Profit before tax at Rs249 crore.

• Profit after tax and minority interest at Rs174 crore.

• EPS (*not annualised) at Rs5.25 on face value of Re1.

Quarter ended September 30, 2011

The consolidated sales / income from operations for the quarter ended September 30, 2011, was at Rs1,108 crore as compared to Rs1,072 crore in the corresponding quarter last year. Operating profit (profit before tax and exceptional items) was Rs34 crore as compared to Rs118 crore in the corresponding quarter last year. Profit before tax was at Rs59 crore as compared to Rs136 crore last year and profit after tax and minority interest was at Rs42 crore as compared to Rs92 crore last year. Earnings per share (*not annualised) was at Rs1.27 as compared to Rs2.79 in the corresponding quarter last year (face value of Re1).

Consolidated segments

Electro-mechanical projects and services: Segment revenues were at Rs762 crore and the segment results were at Rs5 crore. The performance of this segment has been impacted particularly by a couple of overseas projects in Qatar with substantial cost overruns. The domestic projects business of the company has performed better than the corresponding period in the previous year. The overall carry- forward order book for the segment as at September 30, 2011, stands at Rs4,461 crore.

Engineering products and services: In view of transfer of the materials handling business, the segment revenues, results and capital employed of this segment for the current period (quarters) are not comparable with the corresponding periods last year. Segment revenues and results were Rs120 crore and Rs18 crore, respectively. Textile machinery business has performed better than the corresponding periods in the previous year.

Unitary cooling products for comfort and commercial use: Segment revenues were lower at Rs211 crore. The air-conditioning industry is witnessing a drop in volumes due to unfavourable weather conditions (mild summer) compounded by a general slowdown in the economy and inflation costs coupled with high interest rates. The segment results were lower at Rs6 crore.

Six months ended September 30, 2011

The consolidated sales / income from operations for the six months period ended September 30, 2011, was at Rs2,462 crore as compared to Rs2,482 crore in the same period last year. Profit after tax and minority interest was at Rs174 crore as compared to Rs186 crore in the same period last year. EPS (*not annualised) stood at Rs5.25 on face value of Re1 per share.