Voltas net profit jumps 49% to ₹239 crore in March quarter
PremiumTotal income in the January-March quarter jumped 25 per cent to ₹2,683 crore as compared with ₹2,150 crore in the year-ago period
New Delhi: Voltas Ltd, a Tata Group company and leading air-conditioner manufacturer, on Wednesday reported a 49 per cent jump in its consolidated net profit at ₹239 crore for the quarter ended March 31, 2021.
Its consolidated net profit was ₹160 crore in the January-March quarter of the last fiscal.
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2 min read . 04:40 PM ISTTotal income in the January-March quarter jumped 25 per cent to ₹2,683 crore as compared with ₹2,150 crore in the year-ago period, Voltas said in a regulatory filing.
Voltas' revenue from unitary cooling products for comfort and commercial use was up 20 per cent at ₹1,437 crore, compared with ₹1,199 crore a year ago.
Voltas said the cooling products business made good recovery, after easing of the lockdown situation, and achieved overall volume growth of 18 per cent.
Revenue from electro-mechanical projects and service also increased 37 per cent to ₹1,104 crore, against ₹805 crore a year ago.
Revenue from engineering products and services was at ₹98 crore, compared with ₹95 crore in the corresponding quarter of last year.
The company's board of directors recommended a dividend of ₹5 per share for the year 2020-21.
Shares of Voltas Ltd settled 3.93 per cent lower at ₹970.55 apiece on the BSE.
This story has been published from a wire agency feed without modifications to the text.
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