India's Voltas names Noel Tata as chairman emeritus
India's Voltas names Noel Tata as chairman emeritus Nov 6 (Reuters) - Tata Group company Voltas VOLT.NS on Friday named Noel Tata as its chairman emeritus, effective November 12, and said Tata Consumer Products TACN.NS CEO Sunil Alaric D’Souza will replace him as chairman.
Voltas also appointed Jayant Balan as the managing director for a five-year term from May 25, 2027.
Voltas reported a 53.5% increase in quarterly profit to 526.4 million rupees ($5.59 million) and a 10.9% rise in revenue to 25.68 billion rupees
Growth was driven by a strong demand for room air conditioners, with Voltas' unitary cooling-products business reporting a 29% increase in revenue
Noel Tata will retire as Voltas chairman on November 11
On Thursday, Tata also retired as vice chairman and director of jewellery maker Titan Company TITN.NS
($1 = 94.1550 Indian rupees)
(Reporting by Saikeerthi in Bengaluru; Editing by Harikrishnan Nair)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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