Voltas Q1 net profit flat at Rs 187 crore
Air conditioning and cooling technology company Voltas posted a consolidated net profit of Rs 187.06 crore for the first quarter compared to Rs 187.91 crore in the same quarter last fiscal.
The company’s gross sales were up 8.7 percent year-on-year (YoY) at Rs 2,134.41 crore for Q1. In a statement to the exchanges, Voltas said sales for the first quarter was net of Goods and Service Tax (GST) while for the comparative quarter last year included excise duty. Net of GST and excise duty the sales increased 10.08 percent YoY for Q1FY19, said Voltas.
Among the segments, revenues for unitary cooling products for comfort and commercial use saw a dip of 1.7 percent to Rs 1,191.06 crore. However, that remains the largest source of revenue for the company.