OREANDA-NEWS. The board of directors of Voltas, the global air conditioning and engineering services provider of the Tata group, today announced the consolidated unaudited financial results (including the consolidated segment report) for the quarter ended June 30, 2013.

Consolidated results

The consolidated sales / income from operations for the quarter ended June 30, 2013, was at Rs1,602 crore as compared to Rs1,612 crore in the corresponding quarter last year. Due to slowdown in the economy, coupled with higher interest costs, the operating profit (profit before exceptional items and tax) was Rs60 crore as compared to Rs109 crore in the corresponding quarter last year. Net profit after tax and minority interest was at Rs41 crore as compared to Rs79 crore in the corresponding quarter last year. Earnings per share (not annualised) was at Rs1.23 as compared to Rs2.39 in the corresponding quarter last year (face value per share of Rs1).

Consolidated segments

Electro-mechanical Projects and Services: Segment revenue was at Rs693 crore as compared to Rs741 crore in the corresponding quarter last year. Segment result was negative at Rs26 crore largely on account of international projects.

The order book of the segment stood at Rs3,811 crore as compared to Rs4,574 crore in the corresponding quarter last year. The company has recently, in August 2013, received a letter of award for MEP works of a project in Qatar amounting to Rs280 crore approximately. Further, the company is in advanced stages of negotiation on letter of intents aggregating Rs525 crore pertaining to projects in Qatar and Oman.

Engineering Products and Services: Segment revenue and result were higher at Rs111 crore and Rs31 crore as compared to Rs107 crore and Rs19 crore respectively, in the corresponding quarter last year.

Unitary Cooling Products for Comfort and Commercial Use: Segment revenue was higher at Rs787 crore as compared to Rs754 crore in the corresponding quarter last year. Segment result was also higher at Rs79 crore as compared to Rs63 crore in the corresponding quarter last year. Despite intense competition, the company has sustained its market leadership in room air conditioners and is No1 at multi-brand outlets, based on GFK Nielsen’s retail audit findings.