This more than offset the flat sales growth clocked by electromechanical projects and services (EMP), and engineering products and services (EPS). Operating margin therefore surpassed the Street forecast significantly, rising by 236 basis points y-o-y to 10.8%. The company’s rising sales and share in the retail air conditioner AC market, where it is the leader, boosted the quarter’s performance. Operating profit growth of 52% is no doubt very good. Tata group-owned Voltas Ltd’s June quarter results beat the Street’s forecast on the strength of its retail unitary cooling products (UCP) division.

Source: Mint August 02, 2016 18:56 UTC