Home appliances major Voltas posted a 49.4 percent year-on-year (YoY) rise in its March quarter (Q4) consolidated net profit at Rs 239 crore. The consolidated total income for the quarter was up 25 percent YoY to Rs 2,683 crore.
Among the business segments, the cooling products business made a good recovery with the easing of the lockdown situation and achieved overall volume growth of 18 percent. The cooling segment gross revenue rose 20 percent YoY to Rs 1,437 crore in Q4.
The company said it is the leader in air conditioners, with a market share of 25.6 percent in February 2021. In the air cooler segment, it has a market share of 10.6 percent.
In the electro-mechanical projects and services segment, the revenue rose 37 percent YoY to Rs 1,104 crore in Q4. In the engineering products and services segment, the revenue stood at Rs 98 crore as against Rs 95 crore a year ago.
The directors have recommended a dividend of Rs 5 per share at a face value of Rs 1 per share for the year 2020-21, which is subject to approval the of shareholders at the Annual General Meeting of Voltas.
For the full year (FY21), the company said that COVID-19 induced lockdown in the first few months coincided with the peak season for the room air-conditioner business.
Thus, it said that the overall performance of the company has been impacted and is not strictly comparable with the previous year.
For FY21, the consolidated total income stood at Rs 7,745 crore as against Rs 7,889 a year ago. The profit after tax grew 2 percent YoY to Rs 529 crore in FY21.
The earnings per Share (Face Value per share of Re. 1) as on March 31, 2021 was Rs 15.87 as compared to Rs 15.63 in the year-ago period.