Mumbai: Voltas Ltd, a Tata-group company, posted a five-fold increase in net profit on 14 May, at Rs120 crore for the fourth quarter ended 31 March 2007, on the back of better performance by electro mechanical, engineering and cooling divisions.
The company had reported profit after tax of Rs24 crore for the quarter ended 31 March.
Net sales of the company increased by 38% to Rs730 crore for the quarter against Rs530 crore in the year-ago quarter, Voltas informed the National Stock Exchange.
The board of directors have declared a dividend of 100% on equity shares of Re1 each for the year ended 31 March.
The electro-mechanical projects and services segment grew by 21%, while engineering products and services saw growth of 71% during the year ended 31 March, Voltas added.
The profit after tax of the company grew to Rs186 crore during the year ended 31 March as against Rs70 crore in the previous year.
Its net sales rose 29% to Rs2,451 crore in the year under review against Rs1,904 crore in the previous year.