Voltas Ltd Reports Over Two-Fold Jump in Q1 Profit

Voltas Ltd reported a consolidated net profit of Rs 335 crore for Q1 ending June 30, 2024. The Tata Group firm saw significant volume growth in its room AC business, reaching one million unit sales and crossing Rs 5,000-crore in total income. Revenue from various segments showed substantial increases.

On Monday, Voltas Ltd, a prominent air conditioning maker and engineering services provider, announced a more than two-fold rise in consolidated net profit to Rs 335 crore for the first quarter ending June 30, 2024. This surge was primarily driven by a significant volume growth in its room AC business.

The Tata Group-owned company also celebrated a milestone achievement of one million AC unit sales in Q1 FY25, with total income surpassing the Rs 5,000-crore mark for the June quarter. Voltas had recorded a consolidated net profit of Rs 129.42 crore for the same period last year, according to a regulatory filing.

Voltas reported a 46.46 per cent increase in revenue from operations for the June quarter, amounting to Rs 3,359.86 crore, compared to the previous year's corresponding quarter. Total expenses for the company rose by 41.44 per cent to Rs 4,520.40 crore, contributing to a 45.81 per cent rise in total income to Rs 5,001.27 crore.