Voltas Proposes JV With Arcelik A.S.

Voltas Limited on Tuesday reported a consolidated net profit of Rs 200.47 crores for the quarter ended March 31, 2017, as against Rs 164.23 crores for the same quarter in the previous fiscal, as per BSE filing.

The company has also announced that the board has approved a proposal to enter into a joint venture agreement with Arcelik A.S., to tap the fast-growing consumer durables market in India, revealed the BSE filing.

The board of directors at its meeting held on May 23, 2017, have recommended a dividend of Rs 3.50 per share on face value of Rs 1 per share (350%) for the year 2016-17, subject to approval by the shareholders.

Voltas Limited is an air conditioning and engineering company. It is engaged in room air conditioners, contract revenue, commercial refrigeration products and sale of services.

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