Voltamp Transformers profits down for the fiscal

Posted By: Religare
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Voltamp Transformers profits down for the fiscal
Voltamp Transformers posted its audited results fiscal ending March, 2011 on May 30, 2011 after it got delayed due to some mishaps at one of Voltamp factories. It reported a Net Profit of Rs. 51.78 crore for the year ended March 2011, 37.26% down compared to Rs. 82.53 crore.

For the fiscal ending March, 2011 the Net Sales of thee company also decreased but marginally by 2.89% to Rs. 526.29 crore compared to Rs. 541.97 crore last year. The company's entire revenue is generated from just one segment i.e. Electrical Transformers.

The company's Net Sales declined by 18.20% to Rs. 148.99 crore in the quarter ending March, 2011, compared to Rs. 182.13 crore in the corresponding period last year.

In the results, the company saw 15.42% YoY fall in its total expenditure for the Q4 ending March, 2011 to Rs. 124.46 crore. The decrease was mainly attributable to decrease in the consumption of raw materials in contrast with lower Net Sales. On the contrary, there was an increase in the total expenditure for the fiscal ended March, 2011 of 5.62% to Rs. 467.01 crore, compared to fiscal ended March 2010. Here, the increase was mainly seen due to higher raw material consumption.

The other income was Rs. 4.34 crore in the Q4, 2010-11 compared to Rs. 4.92 crore for Q4, 2009-10 and decreased by 20.91% YoY to Rs. 18.27 crore for the fiscal ended March, 2011. The company saw a decline in profit from ordinary activities before tax for the Q4 2010-11, of % Rs. 28.71 crore compared to a Rs. 39.78 crore in the corresponding period previous year. The profit was lower because of lower absolute fall in total expenditure than in net sales of the company. For the fiscal ended March 2011, company again saw a decline in its profit from ordinary activities before tax of 37.20% to Rs. 76.80 crore, compared to previous fiscal.

The interest and bank charges were marginal for the quarter at Rs. 0.15 crore and for the fiscal Rs. 0.75 crore, ended March 2011. The total tax expense decreased by 26.86% YoY to Rs 9.75 crore for the quarter and decreased by 37.09% YoY to Rs. 25.02 crore for the fiscal ended March, 2011.

The company's Net profit for Q4, 2011 was Rs. 18.97 crore as compared to a profit of Rs. 26.45 crore in the corresponding period last year, a decline of 28.29%. As mentioned above, for the year ending March, 2011 the company posted a net profit of Rs. 51.78 crore, compared to Rs. 82.53 crore last year, a downfall of 37.26%.

Read more about: voltamp transformers, results, bse, nse, power
Story first published: Friday, June 10, 2011, 16:33 [IST]
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