Voltas Profit Rises 47% To Rs 129 Crore In December Quarter

Air conditioner maker Voltas on Friday stated that its web revenue in December quarter rose 47 per cent to Rs 129 crore as towards Rs 88 crore in the identical interval final 12 months. Its income yearly rose 32 per cent to Rs 2,046 crore.

The revenue earlier than tax moved up by 39 per cent to Rs 166 crore from Rs 119 crore and complete earnings by 32 per cent from Rs 1,547 crore to Rs 2,046 crore in the identical interval.

“The Cooling Products business made good recovery, post easing of the lockdown situation and achieved a record overall volume growth of 40 per cent, contributed by 43 per cent increase in the sales volume of Room Air conditioners (ACs), 100 per cent in Commercial Refrigeration Products and 11 per cent in air coolers,” Voltas stated in a press launch.

“Voltas continues to be the market leader and is at No.1 position in ACs with a YTD market share of 26 per cent in December 2020. Segment Revenue increased by 40 per cent and was at Rs. 840 crores as compared to Rs. 601 crores in the corresponding quarter last year. Segment Result was significantly higher by 72 per cent at Rs.105 crores as compared to Rs 61 crores in the corresponding quarter last year,” Voltas added.

Voltas stated the outcomes keep in mind the merger of Universal Comfort Products Ltd from April 1, 2019 which was accepted by the National Company Law Tribunal, Mumbai on September 11, 2020.

The income from unitary cooling merchandise for consolation and business use section elevated by 40 per cent to Rs 840 crore as in comparison with Rs 601 crore in Q3 FY20.

The firm’s electro-mechanical initiatives and providers section registered a income of Rs 1,017 crore in Q3 FY21 as in comparison with Rs 808 crore within the year-ago interval.

Voltas stated the companies made a very good restoration after easing of Covid-19 lockdown restrictions.