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Voltas Q1 net profit rises 18% to Rs188 crore

LiveMint logoLiveMint 02-08-2017 PTI

New Delhi: Tata Group firm Voltas on Wednesday reported 17.68% rise in consolidated net profit at Rs 187.91 crore for quarter ended 30 June, on account of higher income.

The company had reported a net profit of Rs159.67 crore during the same period previous fiscal, Voltas said in a BSE filing.

Income from operations during the quarter under review stood at Rs1,962.37 crore as against Rs1,844.81 crore in April-June quarter last year.

Revenue from Electro-Mechanical Projects and Services for the quarter was higher at Rs661 crore compared to Rs580 crore in the same quarter last year, the company said.

Similarly, revenue from Engineering Products and Services for the quarter was higher at Rs90.35 crore compared to Rs69.14 crore in the year-ago period.

In a separate filing, Voltas said it has appointed Abhijit Gajendragadkar as chief financial officer and key managerial personnel, with effect from 1 September.

“The Board of Directors has approved the appointment of Abhijit Gajendragadkar as chief financial officer and Key Managerial Personnel (KMP) of the company, with effect from September 1, 2017,” the company said. The stock ended 1.40% up at Rs 540.15 on BSE.

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