Voltas' revenue up 55% to Rs2,768 crore in April-June, but PAT down 10.5% to Rs109.6 crore

3 Aug 2022 , 08:29 AM

Voltas Ltd, a provider of engineering and air conditioning services, stated on Tuesday that its consolidated net profit for the first quarter ended June 30, 2022, fell by 10.47% to Rs109.62 crore.

According to Voltas’ regulatory filing, the Tata group company reported a combined net profit of Rs122.44 crore in the April-June fiscal quarter.

However, compared to the equivalent period of the prior year, its revenue from operations climbed by 55.05% to Rs2,768 crore during the period under review, or Rs1,785.20 crore.

In the first quarter of FY23, its total expenses were Rs2,603.48, up 56.69% from Rs1,661.53 crore in the corresponding period last year.

Revenue from “unitary cooling products for comfort and commercial usage” at Voltas increased by a factor of two to Rs2,162.20 billion from Rs963.11 billion.

According to Voltas, which added that it “continues to be the market leader” in the category with an existing market share of 24.1% as of June 2022, gross segment revenue climbed by 125% as a result of the volume growth.

Electro-mechanical projects and services, on the other hand, were down 33.95% to Rs454.69 crore from Rs688.42 crore.

According to Voltas, this was caused by the lower carry-forward order position. Engineering goods and services increased by 8.05% to Rs124.33 crore from Rs115.06 crore.

Voltas Ltd. shares closed at Rs 999.60 on Tuesday, up 0.01% from the previous closing.