Sizzling Profits: AC Manufacturers Witness Massive Revenue Surge Amid Blistering Summer

Air-conditioner manufacturers have experienced substantial revenue and profit growth during the April-June quarter, driven by increased demand due to extreme summer heat. Companies like Voltas, Blue Star, and Havells reported impressive gains in both top-line and bottom-line performance, marking a significant upswing for the AC industry.

An unprecedented growth in demand for air conditioners during the blistering summer has driven high double-digit revenue growth for AC manufacturers in the April-June quarter. Several companies recorded a two-fold jump in profits.

Voltas, Blue Star, Whirlpool of India, Johnson Hitachi, and Havells, which owns Lloyds brand, all saw significant increases. Voltas reported a consolidated net profit of Rs 335 crore, with a 46.46 percent rise in revenue to Rs 4,921 crore, crossing the Rs 5,000 crore-mark for total income in Q1 FY25.

Blue Star and Havells reported strong performance as well. Blue Star saw its net profit double to Rs 168.76 crore, with a 28.72 percent rise in revenue, while Havells’ Lloyd business reported profits after a previous loss. The overall industry growth signals a potential inflection point in the under-penetrated AC market.