OREANDA-NEWS. The board of directors of Voltas, the global air conditioning and engineering services provider of the Tata group, today announced the unaudited consolidated financial results (including the consolidated segment report) for the quarter / nine-month period ended December 31, 2013.

Consolidated results

The consolidated sales / income from operations for the quarter ended December 31, 2013, was at Rs1,115 crore as compared to Rs1,150 crore in the corresponding quarter last year. Operating profit (profit before exceptional items and tax) was higher at Rs74 crore as compared to Rs34 crore in the corresponding quarter last year. As exceptional income in the current quarter was Rs4 crore only as compared to Rs60 crore in the corresponding quarter last year, profit before tax was Rs78 crore as compared to Rs94 crore last year, and net profit after tax and minority interest was Rs62 crore as compared to Rs77 crore in the corresponding quarter last year. Earnings per share (not annualised) was Rs1.87 as compared to Rs2.32 in the corresponding quarter last year (face value per share of Re1).

Consolidated segments

Electro-mechanical projects and services: Segment revenue was at Rs643 crore as compared to Rs797 crore in the corresponding quarter last year. Segment result was a negative Rs4 crore as compared to Rs6 crore in the corresponding quarter last year. The results were impacted primarily due to overseas projects. The order book of this segment was Rs3,946 crore as compared to Rs4,210 crore in the corresponding quarter last year.

Engineering products and services: Segment revenue and result were at Rs112 crore and Rs36 crore respectively, as compared to Rs107 crore and Rs26 crore respectively, in the corresponding quarter last year.

Unitary cooling products for comfort and commercial use: Segment revenue was higher at Rs347 crore as compared to Rs239 crore in the corresponding quarter last year. Segment result was also significantly higher at Rs46 crore as compared to Rs15 crore in the corresponding quarter last year due to reasons such as larger volumes both in ACs and commercial refrigeration products and better product mix.

Nine months ended December 31, 2013

The consolidated sales / income from operations for the nine-month period ended December 31, 2013, was lower by 3 percent at Rs3,793 crore as compared to Rs3,922 crore in the corresponding period last year. Operating profit was however higher by 3 percent at Rs196 crore as compared to Rs190 crore in the corresponding period last year. As exceptional income was lower at Rs4 crore, as compared to Rs75 crore last year, profit before tax and net profit after tax and minority interest were at Rs200 crore and Rs145 crore, as compared to Rs265 crore and Rs199 crore, respectively, in the corresponding period last year. EPS (not annualised) was Rs4.38 as at December 31, 2013, as compared to Rs6.01 as at December 31, 2012 (face value per share of Re1). The company continues to retain its market leadership in room air conditioners.