Voltas Ltd reported a sharp 33.64% growth in gross revenues for the Dec-20 quarter on consolidated basis at Rs1,994.64cr. There was growth across all the 3 major verticals of Voltas in the Dec-20 quarter. The unitary cooling products for commercial use vertical saw revenues grow by 45%, the electro-mechanical projects business saw growth of 26% and the engineering products and services division witnessed growth of 46% on a yoy basis. The demand recovery from the industrial sector was robust across the board.
For the Dec-20 quarter, the consolidated operating profits were up 53.56% at Rs137.48cr. The company did benefit from a slower growth in the cost of raw materials and a drop in employee benefit expenses. As a result, OPM improved from 6.00% in Dec-19 quarter to 6.89% in Dec-20 quarter.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 47.18% at Rs127.91cr. Essentially, it was the sharp growth in operating profit rubbing off on the net profits too in the Dec-20 quarter. PAT margins expanded sharply from 5.82% in the Dec-19 quarter to 6.41% in the Dec-20 quarter.
Financial highlights for Dec-20 compared yoy and sequentially
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Voltas Ltd |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 1,994.64 |
₹ 1,492.51 |
33.64% |
₹ 1,612.54 |
23.70% |
|
Operating Profit (Rs cr) |
₹ 137.48 |
₹ 89.53 |
53.56% |
₹ 89.60 |
53.44% |
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Net Profit (Rs cr) |
₹ 127.91 |
₹ 86.91 |
47.18% |
₹ 78.35 |
63.25% |
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Diluted EPS (Rs) |
₹ 3.87 |
₹ 2.63 |
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₹ 2.37 |
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OPM |
6.89% |
6.00% |
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5.56% |
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Net Margins |
6.41% |
5.82% |
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4.86% |
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