Voltas Q3 results: Profit jumps 46% to Rs 129 crore

Voltas Q3 results: Profit jumps 46% to Rs 129 crore

NEW DELHI: Tata Group company Voltas Ltd on Friday reported 46.26 per cent increase in consolidated net profit at Rs 128.64 crore for December quarter 2020-21. The company had posted a net profit of Rs 87.95 crore in the same quarter last fiscal year, Voltas said in a regulatory filing.

Total income during the period under review stood at Rs 2,046.26 crore, up 32.29 per cent, as against Rs 1,546.76 crore in the year-ago quarter, the company said.

Voltas, the leading air-conditioner manufacturer, said the cooling products business made a good recovery, post easing of the lockdown restrictions and achieved a record overall volume growth of 40 per cent.

Voltas’ revenue from unitary cooling products for comfort and commercial use segment increased 40 per cent to Rs 840 crore as compared to Rs 601 crore in the corresponding quarter last year.

The company’s electro-mechanical projects and services segment had a revenue of Rs 1,017 crore as compared to Rs 808 crore in the year-ago period.

Shares of Voltas were trading 1.37 per cent lower at Rs 1,086 apiece on BSE.

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