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  5. Voltas shares drop 5% after Q4 earnings

Voltas shares drop 5% after Q4 earnings

Voltas shares drop 5% after Q4 earnings
Shares of air conditioning and engineering services provider Voltas Ltd on Wednesday ended 5 per cent lower after the company reported a 22.75 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2024. The stock plunged 9.13 per cent to Rs 1,261.65 during the day on the BSE. Later, it ended at Rs 1,319.10, a decline of 4.99 per cent.

At the NSE, it dropped 9.15 per cent to Rs 1,262 apiece during the day. The stock ended at Rs 1,323.15, lower by 4.75 per cent.

The company's market capitalisation (mcap) declined Rs 2,294.68 crore to Rs 43,647.01 crore.

In traded volume terms, 2.19 lakh shares of the company were traded at the BSE and 91.33 lakh shares at the NSE during the day.

Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in the March quarter, impacted by higher expenses.

The company had posted a consolidated net profit of Rs 143.23 crore in the same period of the 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.

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