Voltas clocks Q3 profit up 47 pc at Rs 129 cr

Voltas Ltd, the air conditioning and engineering services arm of Tata Group, on Friday reported 47 per cent increase in consolidated net profit at Rs 129 crore for Q3 FY21 as compared to Rs 88 crore in the same period of previous fiscal.

The profit before tax moved up by 39 per cent to Rs 166 crore from Rs 119 crore and total income by 32 per cent from Rs 1,547 crore to Rs 2,046 crore in the same period.

Voltas said the results take into account the merger of Universal Comfort Products Ltd from April 1, 2019 which was approved by the National Company Law Tribunal, Mumbai on September 11, 2020.

The revenue from unitary cooling products for comfort and commercial use segment increased by 40 per cent to Rs 840 crore as compared to Rs 601 crore in Q3 FY20.

The company's electro-mechcal projects and services segment registered a revenue of Rs 1,017 crore in Q3 FY21 as compared to Rs 808 crore in the year-ago period.

Voltas said the businesses made a good recovery after easing of Covid-19 lockdown restrictions.

( With inputs from ANI )