The Board of Directors of Voltas Limited, a global air conditioning and engineering services provider of the Tata Group, have today announced the Unaudited Financial Results, including the Segment Report, for the quarter ended June 30, 2008.

Quarter ended June 30, 2008

The Company’s Sales / Income from Operations rose by 22% to Rs.1017 crores, as against Rs.834 crores in the same period last year. Operating Profit (Profit before Tax and Exceptional Income /(Expenses)) increased by 32% to Rs.103 crores as against Rs.78 crores in the same period last year. Profit after Tax increased by 63% to Rs.85 crores, as compared to Rs.52 crores in the same period last year.

The Company’s Electro-mechanical Projects and Services segment’s revenues grew by 24%. The Order Book of this segment stands at Rs.5675 crores, registering a growth of 183%.

The Engineering Products and Services segment’s revenues grew by 23%, in the face of the continuing decline in demand for capital equipment. Mining & Construction Equipment business achieved 39% growth in sales.

The Unitary Cooling Products for Comfort and Commercial Use segment’s revenues grew by 20% including 29% value growth in air conditioners, sustaining the edge derived from the launch of India’s very first range of Energy Efficient air conditioners. The growth also reflects the peak-season nature of the 1st quarter, and the demand slows down in the 2nd and 3rd quarters.

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