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Voltas, Tata group company and leading air conditioning & engineering services provider, reported decent
performance for Q2 FY 2009. Net sales were up by 28.8% to Rs. 918.04 crore. Sales of Engineering products &
services division grew @ 39.6% to Rs. 587.36 crore, while that of Electro mechanical project & service (MEP)
sales grew @ 20.6% to Rs. 161.68. Unitary Cooling products turnover rose by 7.4% to Rs. 160.73 crore. OPM%
declined to 7.7% mainly because of substantial increase in staff cost to 12.3% (9%) of sales. Strong sales growth
coupled with sharp increase in other operating income of Rs. 10.45 crore (incl. exchange gain of Rs 7 crore) and
52.5% higher other income of Rs. 10.52 crore (mainly because of rental & dividend income) lifted PBT (before
extra ordinary items) up by 27.8% to Rs. 88.57 crore. However, lower extra ordinary income of Rs. 3.07 crore
(Rs. 10.79 crore) dragged down growth in PAT of Rs. 62.19 crore to just 16.1%.