Voltas Q3 results: Net profit declined by 25%

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Voltas Q3 results: Net profit declined by 25%
12 Feb 2022
5 min read

News Synopsis

Tata group firm, Voltas released its quarter 3 meaning on Friday. Its net profit declined by 25% as it earned only 96.56 crores in the third quarter compared to Rs 128.64 crore, which it earned in the previous year. Voltas in its earning statement said: ''While muted demand post season and early signs of 3rd wave (Omicron) has impacted the trade and consumer sentiments for the Cooling Products segment, better execution efficiencies in some of the ongoing projects improved the results (profitability) of Electro-Mechanical Projects and Services segment over the corresponding quarter last year”. However, its revenue from 'Unitary Cooling Products for Comfort and Commercial Use' was up at Rs 1,093.60 crore as against Rs 1,002.68 crore in December quarter 2020-21. After the declaration of the result, Shares of Voltas Ltd on Friday settled at Rs 1,192.20 apiece on the Bombay Stock Exchange, down 3.77 percent from the previous close.

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