 "Voltas touches lifetime high as Q4 profit beats estimates")
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Shares of Voltas have moved higher by over 9% to Rs 315.60, also its lifetime high on the BSE, after reporting a better-than-expected 17.5% year on year (YoY) growth in consolidated net profit at Rs 118 crore for the fourth quarter ended March 31, 2015 (Q4).
The company had posted a profit of Rs 100 crore in the same quarter last year.
Net sales, however, grew marginally by 2.32% to Rs 1,484 crore on YoY basis, Voltas said in a filing to the BSE.
Analysts on an average had expected net profit of Rs 85 crore and net sales of Rs 1,507 crore for the quarter.
EBITDA or operating profit margins expanded by over 200 basis points to 9.59% in March quarter against 7.17% in the year-ago quarter.
The stock opened at Rs 302 and touched a low of Rs 301 on the BSE in early morning trades. The trading volumes on the counter jumped more than five-fold, with a combined 8.43 million shares changing hands on the BSE and NSE till 1225 hours.
The company had posted a profit of Rs 100 crore in the same quarter last year.
Net sales, however, grew marginally by 2.32% to Rs 1,484 crore on YoY basis, Voltas said in a filing to the BSE.
Analysts on an average had expected net profit of Rs 85 crore and net sales of Rs 1,507 crore for the quarter.
EBITDA or operating profit margins expanded by over 200 basis points to 9.59% in March quarter against 7.17% in the year-ago quarter.
The stock opened at Rs 302 and touched a low of Rs 301 on the BSE in early morning trades. The trading volumes on the counter jumped more than five-fold, with a combined 8.43 million shares changing hands on the BSE and NSE till 1225 hours.
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