Voltas net profit jumps 49% to Rs 239 crore in March quarter

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New Delhi: Voltas Ltd, a Tata Group company and leading air-conditioner manufacturer, on Wednesday reported a 49% jump in its consolidated net profit at Rs 239 crore for the quarter ended March 31, 2021. Its consolidated net profit was Rs 160 crore in the January-March quarter of the last fiscal.

Total income in the January-March quarter jumped 25% to Rs 2,683 crore as compared with Rs 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% at Rs 1,437 crore, compared with Rs 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%.

Revenue from electro-mechanical projects and service also increased 37% to Rs 1,104 crore, against Rs 805 crore a year ago. Revenue from engineering products and services was at Rs 98 crore, compared with Rs 95 crore in the corresponding quarter of last year.

The company’s board of directors recommended a dividend of Rs 5 per share for the year 2020-21. Shares of Voltas Ltd settled 3.93% lower at Rs 970.55 apiece on the BSE.