Voltas rallies over 9% to fresh all-time high on strong Q1 performance
Voltas rallies over 9% to fresh all-time high on strong Q1 performance
Tata Group's consumer electronics firm Voltas shares rallied over 9 per cent to Rs 1,563 after the company's June quarterly show. At the last count, shares of the company were up over 8 per cent at Rs 1,551 per share on the BSE.
The company's consolidated total income for the June quarter came in higher by 46 per cent at Rs 5,001 crore as compared to Rs 3,430 crore in the corresponding quarter last year. Net Profit (after tax) also logged a healthy jump from Rs 129 crore in Q1FY24 to Rs 335 crore in Q1FY25.
The Unitary Cooling Products (UCPs) business continued to outperform the market and maintained its growth momentum. Overall volume grew by 67%. Voltas continues to be a market leader both in Split and Window Air-conditioners with an Exit Market Share of 21.2% as at June 2024. The overall segment revenue grew by 51 % to Rs.3,802 crore as compared to Rs.2,514 crore in the corresponding quarter last year.
In the Electro-Mechanical Projects and Services segment, the domestic projects business with presence in MEP, Water, Electrical & Solar has grown due to a healthy carry-forward order book. Timely execution , focus on completion certification and other related project management initiatives have resulted in a robust bottom-line growth. The Domestic Projects continues to grow its order pad and retains a positive outlook, given the increased infrastructure spending in the country, noted the company's filing.
For International Projects Business, projects in UAE and Saudi continue to deliver good performance and drive the revenue growth for the business. Strong project execution, timely assessment of cost and profitability
have ensured a better bottom-line performance after facing challenges for the last few quarters. The segment revenue for the quarter was higher by 40%, at RS.949 crores as compared to RS.679 crores in the corresponding quarter last year.
Additionally, the company's Engineering Products and Services segment continued to show a steady performance on the back of a strong order backlog and disciplined execution efforts. Revenue for the quarter was higher at Rs 161 crore as compared to Rs 142 crores in the corresponding quarter last year.
Voltas share price performance
The stock over the last one year has climbed more than 85 per cent.
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