Voltas moves higher after robust Q4 results

Voltas gained 0.22% to Rs 335.80 at 10:32 IST on BSE after consolidated net profit rose rose 49% to Rs 176 crore on 26% growth in income from operations to Rs 1876 crore in Q4 March 2016 over Q4 March 2015.

The result was announced at the fag end of trading session yesterday, 17 May 2016. The stock had risen 3% to settle at Rs 335.05 on that day.

Meanwhile, the S&P BSE Sensex was down 242.95 points or 0.94% at 25,530.66.

On BSE, so far 2.98 lakh shares were traded in the counter as against average daily volume of 1.34 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 4.19% at the day's high of Rs 349.10 so far during the day. The stock rose 0.01% at the day's low of Rs 335.10 so far during the day. The stock had hit a record high of Rs 360 on 23 June 2015. The stock had hit a 52-week low of Rs 211.20 on 12 February 2016. The stock had outperformed the market over the past one month till 17 May 2016, gaining 18.33% compared with Sensex's 0.57% rise. The scrip had also outperformed the market in past one quarter, advancing 42.15% as against Sensex's 10.23% rise.

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

Voltas attributed the increase in top line during the quarter to improvement in order execution by Projects businesses, both domestic and international.

The company's earnings before interest, depreciation and amortization rose 29% to Rs 185 crore in Q4 March 2016 over Q4 March 2015.

Voltas is an 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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