Voltas Q4 PAT up 49% YoY to Rs 239 cr

Voltas reported 49.4% jump in consolidated net profit to Rs 239 crore on 24.8% increase in total income to Rs 2683 crore in Q4 FY21 over Q4 FY20.

Profit before tax in Q4 FY21 stood at Rs 321 crore, up by 47.9% from Rs 217 crore in Q4 FY20.

The Cooling Products business made good recovery,post easing of the lockdown situation and achieved overall volume growth of 18%. Revenue from the Cooling Products business increased 20% at Rs 1437 crore compared with Rs 1199 crore in the corresponding quarter last year. It achieved overall volume growth of 18%. Voltas continues to be the market leader and is at No.1 position in ACs with a market share of 25.6% in February 2021 YTD.

Electro-Mechanical Projects and Services segment revenue for Q4 FY21 was higher by 37% at Rs 1104 crore as compared with Rs 805 crore in Q4 FY20.

Engineering Products and Services segment revenue in the fourth quarter stood at Rs 98 crore, which is higher by 3.2% as compared with Rs 95 crore reported in the same period last year.

The AC maker reported 1.5% rise in consolidated net profit to Rs 529 crore on 1.8% fall in total income to Rs 7745 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

COVID-19 induced lockdown in the first few months of the current year coincided with the peak season for the room air-conditioner business. Thus, the overall performance of the company has been impacted and is not strictly comparable with the previous year.

The company's board has recommended a dividend of Rs 5 per share for the year 2020-21.

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

The scrip fell 3.85% to currently trade at Rs 971.45 on the BSE.

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