Voltas hits record high after announcing decent Q4 results

Voltas jumped 7.32% to Rs 309.40 at 10:45 IST on BSE after consolidated net profit rose 17.55% to Rs 118.04 crore on 1.78% rise in total income to Rs 1520.26 crore in Q4 March 2015 over Q4 March 2014.

The Q4 result was announced after market hours yesterday, 21 May 2015.

Meanwhile, the S&P BSE Sensex was up 164.03 points or 0.56% at 27,965.67.

On BSE, so far 3.89 lakh shares were traded in the counter as against average daily volume of 1.97 lakh shares in the past one quarter.

The stock hit a high of Rs 311.60, also a record high for the stock. The stock hit a low of Rs 300.75 so far during the day. The stock had hit a 52-week low of Rs 170 on 27 May 2014.

The stock had underperformed the market over the past one month till 21 May 2015, declining 1.52% compared with Sensex's 0.48% rise. The scrip had however outperformed the market in past one quarter, gaining 11.18% as against Sensex's 4.86% fall.

The large-cap firm has equity capital of Rs 33.09 crore. Face value per share is Re 1.

Voltas' operating profit rose 30% to Rs 159 crore in Q4 March 2015 over Q4 March 2014.

Voltas said that the board of directors of the company at its meeting held yesterday, 21 May 2015, inter alia, have recommended dividend of Rs 2.25 per share for the year ended 31 March 2015 (FY 2015).

Voltas is air conditioning company and one of the world's premier engineering solutions providers and project specialists. Founded in India in 1954, Voltas offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality.

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