Voltas cools off after Q3 earnings

Shares of Voltas witnessed volatility after the company announced its Q3 December 2019 result during market hours today, 7 February 2020.

The company reported a 12.64% rise in consolidated net profit to Rs 87.95 crore in Q3 December 2019 as against Rs 78.08 crore reported in Q3 December 2018.

Total income for Q3 December 2019 was flat at Rs 1546.76 crore compared with corresponding quarter last year.

Profit before tax (PBT) for Q3 December 2019 stood at Rs 119.32 crore, up by 10% YoY. Current tax expenses declined 4.66% to Rs 32.72 crore during the period under review.

The company said it continued to hold No 1 position in room air conditioner business with YTD market share of 24.3%. Gross segment revenue increased by 14% and stood at Rs 601 crore as compared to Rs 526 crore in the corresponding quarter last year. Air coolers and other products also witnessed increased traction and healthy growth. Segment Result was higher by 36% and stood at Rs 61 crore as compared to Rs 45 crore in the corresponding quarter last year.

Shares of Voltas were trading 1.1% lower at Rs 676. The stock hovered in the range of 691.85 and 671.95 so far.

Voltas is India's largest air conditioning company, and one of the world's premier engineering solutions providers and project specialists.

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