Mumbai, Feb 11 (IANS): Tata group-owned air-conditioner (AC) manufacturer Voltas Wednesday said its net profit for the quarter ended Dec 31 rose by 72.5 percent.

The rise is an increase of Rs.45 crore compared to same period in the last fiscal despite decline in Voltas' consolidated earnings.

"Net profit after minority interest was higher at Rs.107 crore as compared to Rs.62 crore in the corresponding quarter last year," the company said in a statement.

However, the consolidated income for the quarter under review declined by 15.8 percent to Rs.939 crore as compared to Rs.1,115 crore in the corresponding quarter last year.

"Improved margin realisations and greater cost controls contributed to higher profit before exceptional items and tax," the company said.

"During the quarter, an exceptional gain amounting to Rs.234 crore was realised on sale of property which was partially offset by the exposure provided of Rs.190 crore on onerous contract -- Sidra."

The company said that on account of a higher sales volume of ACs, the unitary cooling division's revenue marginally rose to Rs.384 crore against Rs.347 crore in the corresponding quarter last fiscal year.

Revenues from electro-mechanical services division declined to Rs.461 crore against Rs.643 crore in the corresponding quarter last year. The company said the decline is on account of "slow pace of execution in international projects".

The engineering product and services division also suffered revenue losses as it declined to Rs.104 crore compared to the figure of Rs.148 crore in the same period last fiscal year.

The segment, which is much dependant on mining companies globally, underwent contraction as a result of consolidation of its mining sector clients.