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Business News/ Companies / Company Results/  Voltas net profit jumps 49% to 239 crore in March quarter
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Voltas net profit jumps 49% to ₹239 crore in March quarter

Total 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

Revenue from electro-mechanical projects and service also increased 37% to ₹1,104 crore, against ₹805 crore a year ago Photo: Hindustan TimesPremium
Revenue from electro-mechanical projects and service also increased 37% to 1,104 crore, against 805 crore a year ago Photo: Hindustan Times

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.

Total 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.

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This story has been published from a wire agency feed without modifications to the text.

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Published: 12 May 2021, 05:29 PM IST
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