Voltas consolidated net profit jumps 49 pc to Rs 239 cr in March quarter

Topics Voltas

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 Rs 239 crore for the quarter ended March 31, 2021.

Its consolidated net profit was Rs 160 crore in the January-March quarter of the last fiscal.

Total income in the January-March quarter jumped 25 per cent to Rs 2,683 crore as compared with Rs 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 Rs 1,437 crore, compared with Rs 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 Rs 1,104 crore, against Rs 805 crore a year ago.

Revenue from engineering products and services was at Rs 98 crore, compared with Rs 95 crore in the corresponding quarter of last year.

The company's board of directors recommended a dividend of Rs 5 per share for the year 2020-21.

Shares of Voltas Ltd settled 3.93 per cent lower at Rs 970.55 apiece on the BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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