Shares of Voltas plunges over 6% to trade at intra-day low of Rs 1657 on NSE following the company’s impressive financial results for the September quarter. Voltas reported a staggering 269% year-on-year (YoY) increase in consolidated net profit, reaching Rs 133 crore compared to Rs 36 crore in the same period last year.
This growth was primarily fueled by a 56% surge in volume from its room air conditioning (AC) business.
Revenue Growth and Expenses
The air-conditioner manufacturer and engineering services provider saw its revenue from operations rise by 14.23% YoY to Rs 2,619.11 crore, up from Rs 2,292.75 crore a year earlier.
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However, total expenses increased by 10.74% to Rs 2,486.89 crore for the September quarter. Total income, which includes other sources of revenue, grew by 16.53% to Rs 2,754.58 crore during the quarter.
Strong Half-Yearly Performance
For the six months ending September 30, 2024, the company achieved a significant 33% increase in consolidated total income, reaching Rs 7,726 crore compared to Rs 5,794 crore in the same period last year.
Profit before tax soared by 128% in the six-month period, hitting Rs 657 crore compared to Rs 288 crore previously. Net profit (after tax) also saw substantial growth, reaching Rs 468 crore, up from Rs 165 crore in the corresponding period last year. This marks the highest half-yearly profits in the company’s history.
Stock Performance in Last One Year
Voltas shares have delivered positive returns across various time frames. Over the last three months, the stock has shown a positive return of 15%, indicating short-term growth. In the last six months, the performance has been even more impressive, with a substantial increase of 20.06%, showcasing the stock’s resilience and upward momentum.
Year-to-date, Voltas shares have surged by 80.98%, emphasizing the stock’s positive trajectory in the current calendar year. Looking back over the last twelve months, the stock has demonstrated significant growth, surpassing 112.16%.
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