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Voltas reports increase in sales in consolidated financial results for 2015-16

India Blooms News Service | | May 18, 2016, at 12:43 am

#Voltas # Volta report # Volta sales # consolidated financial results

Kolkata/Mumbai, May 17 (IBNS): The Board of Directors of Voltas Limited, a global air conditioning and engineering services provider of the Tata Group, on Tuesday announced the consolidated audited financial results (including the Consolidated Segment Report) for the year ended March 31, 2016.

With increase in sales across all business segments, the Consolidated Sales/Income from Operations for the year ended March 31, 2016 was higher by 13%, at Rs. 5832 crores as compared to Rs. 5144 crores in the corresponding period last year.

Profit before tax was also higher by 7%, at Rs. 552 crores as compared to Rs. 514 crores last year. Net Profit (after Minority Interest) was Rs. 386 crores as compared to Rs. 384 crores last year.

Earnings per Share (Face Value per share of Re. 1) as at March 31, 2016 improved to Rs. 11.65 as compared to Rs. 11.62 last year. The Board of Directors have recommended dividend of Rs 2.60 per share of Re. 1/- each (260%) for the year 2015-16.

With some improvement in order execution by Projects businesses, both domestic and international, the Consolidated Sales/Income from Operations for the quarter ended March 31, 2016 was higher by 26% at Rs. 1876 crores as compared to Rs. 1484 crores in the corresponding quarter last year.

Earnings before interest, depreciation & amortization expense at Rs. 185 crores showed a healthy increase of 29% as compared to Rs. 143 crores, last year. Profit before tax (after exceptional items) was higher at Rs. 247 crores as compared to Rs. 161 crores last year. Net Profit (after Minority Interest) was higher by 49% at Rs. 176 crores as compared to Rs. 118 crores last year.

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