Voltas tumbles after Q4 PAT slips 23% YoY

6 May 2022 , 10:27 AM

On a consolidated basis, profit before tax (PBT) fell 23% year-on-year to Rs 247.40 crore in Q4 March 2022. The unitary cooling products segment reported higher revenue of Rs 1818 crore as compared to Rs 1655 crore in the corresponding quarter last year. Voltas continues to be the market leader in ACs with a YTD market share of 25.4% YTD January 2022. The electro-mechanical projects and services segment revenue for the quarter was Rs 692 crore compared with Rs 875 crore in the corresponding quarter last year owing to lower carry forward order book. However, a healthy project mix and focus on the certifications and collections resulted in improving the overall margin for the segment. Carry forward order book of the Segment was at Rs 5360 crore compared with Rs 6438 crore in the corresponding quarter last year. Engineering products and services segment revenue and result for the quarter were higher at Rs 124 crore and Rs 41 crore compared with Rs 98 crore and Rs 34 crore, respectively in the corresponding quarter last year due to revival in capital equipment demand and higher after sales service revenue. For the full year, net profit declined 4.01% to Rs 504.09 crore on 5.16% rise in net sales to Rs 7841.07 crore in the year ended March 2022 over the year ended March 2021. The board has recommended a dividend of Rs 5.50 per share for the year 2021-22. Voltas is the global air conditioning and engineering services provider of the Tata Group. Powered by Capital Market – Live News