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Voltas Ltd News

Rising demand for room air-conditioners pushes up Voltas's stock

Distribution expansion, launches may perk up firm's showing

Rising demand for room air-conditioners pushes up Voltas's stock
Updated On : 27 Jun 2024 | 8:05 AM IST

Voltas slips 9% on profit booking after Q4 results disappoints Street

Voltas stock price update: The domestic projects continues to grow its order pad and retain a positive outlook given the increased infrastructure spending in the country, the company said

Voltas slips 9% on profit booking after Q4 results disappoints Street
Updated On : 08 May 2024 | 10:29 AM IST

Voltas Q4 results: PAT down 22.5% at Rs 110.64 cr, services biz up 38%

Air conditioning and engineering services provider Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher expenses. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, Voltas said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue

Voltas Q4 results: PAT down 22.5% at Rs 110.64 cr, services biz up 38%
Updated On : 07 May 2024 | 8:03 PM IST

Voltas stock price today up 5% on UBS upgrade; Whirlpool on a roll too

Voltas, Whirlpool of India stock price update: Shares of household appliances makers Voltas and Whirlpool surged up to 7 per cent on the BSE in Monday's intra-day trade on improved outlook.

Voltas stock price today up 5% on UBS upgrade; Whirlpool on a roll too
Updated On : 22 Apr 2024 | 1:12 PM IST

Record volumes, higher market share drive gains for Voltas stock

Voltas became the first Indian company to top the 2 million AC units sales in a financial year. Voltas said the performance was attributed to a consistent demand for cooling products during the year

Record volumes, higher market share drive gains for Voltas stock
Updated On : 08 Apr 2024 | 10:17 AM IST

Voltas AC records 35% sales growth, crosses 2 million unit mark in FY24

Leading residential air conditioner maker Voltas on Sunday said it has recorded a 35 per cent sales growth to over two million units in FY24, becoming the first company in the domestic market to cross this mark. The performance was attributed to a consistent demand for cooling products during the year, coupled with a strong offline and online distribution network, and new innovative launches, the Tata Group firm said in a statement. "The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35 per cent," it added. With these landmark sales, Voltas is "the first ever brand to achieve this extraordinary milestone in the Air Conditioning industry in India", it said. The Indian residential AC market is estimated to be around 10 million units in FY24 and is expected to grow to 11.5 million units this year. Even during the March quarter, when sales of compressor-based cooling .

Voltas AC records 35% sales growth, crosses 2 million unit mark in FY24
Updated On : 07 Apr 2024 | 2:58 PM IST

BSE Midcap index hits new high; analysts see more upside in months ahead

The S&P BSE Midcap index traded higher for a third straight day, surging 3.5 per cent during the period

BSE Midcap index hits new high; analysts see more upside in months ahead
Updated On : 03 Apr 2024 | 2:56 PM IST

Rs 750 cr stuck in Qatar projects due to delays in payments: Voltas CEO

Tata Group firm Voltas is facing a major headwind in Qatar as around Rs 750 crore has been stuck due to delays in the realisation of overdue receivables and execution timelines, said its MD and CEO Pradeep Bakshi. In some projects, bank guarantees were "unethically" encashed by some contractors, which was an "uncalled" action to make quick money, derailing the international project business of Tata Group firm in the December quarter, he added. "Unprecedented things are happening in that area, especially in Qatar, wherein, unfortunately, our dues are not being paid to us timely, and inordinate delays are happening. We have completed the project and handed it over, and despite that, payments are not made," Bakshi told PTI. Voltas has already approached the Indian government for help on the issue and also approached the Embassy in Qatar. MEP (mechanical, electrical, and plumbing) contractor Voltas has completed the projects in Qatar and handed them over as per the contract. However, i

Rs 750 cr stuck in Qatar projects due to delays in payments: Voltas CEO
Updated On : 11 Feb 2024 | 4:24 PM IST

Voltas Q3 results: Profit falls 58% to Rs 23.85 crore as expenses rise

The Tata Group-owned company's consolidated profit before exceptional items and tax fell 58% from last year to Rs 23.85 crore ($2.87 million) in the three months to Dec 31

Voltas Q3 results: Profit falls 58% to Rs 23.85 crore as expenses rise
Updated On : 30 Jan 2024 | 8:45 PM IST