Voltas, a Tata Group company, Tuesday reported third-quarter consolidated net loss of Rs.115.41 crore or Rs.3.49 per share, compared with a net profit of Rs.70.55 crore or Rs.2.13 per share for the quarter ended December 31 last year.
quarterly net income increased by five percent to Rs.1,153.88 crore from the Rs.1,101.93 crore for the same quarter last year, while other operating income was Rs.10.78 crore, compared with Rs.2.93 crore in Q3FY11.
During the quarter, income from 'Electro-Mechanical Projects and Services' segment totaled Rs.824.13 crore, while that from 'Engineering Products and Services' totaled Rs.87.74 crore. Income for the quarter from 'Unitary Cooling Products' segment was Rs.233.77 crore, whereas that from 'Others' was Rs.8.45 crore.
Stand-alone Results
On standalone basis, the company's net loss stood at Rs.116.11 crore for third -quarter, compared with a net profit of Rs.67.01 crore in Q3FY11. Net sales increased by 14 percent to Rs.1,124.48 crore from the Rs.990.42 crore in the corresponding period last fiscal, while other operating income totaled Rs.10.14 crore, compared with Rs.2.63 crore in the year-ago quarter.
The company said Ravi Kant had stepped down as a Director of the company effective February 14. Vinayak Deshpande, currently Managing Director of Tata Projects has been appointed as an Additional Director (Non-Executive Non-independent) of the company effective February 14.
At the BSE, Voltas shares are currently trading at Rs.110.60, up by 16.98 percent from the previous close.
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