Voltas soars after Q2 PAT jumps 30% YoY to Rs 104 crore

Voltas jumped 4.42% to Rs 1206.85 after the company reported 30% rise in consolidated net profit to Rs 104 crore in Q2 FY22 from Rs 80 crore in Q2 FY21.

Total income for the quarter ended 30 September 2021 was higher by 5%, at Rs 1737 crore as compared to Rs 1651 crore in the corresponding quarter last year.

Voltas said that the Unitary Cooling Products business made good recovery and achieved overall volume growth of 24% contributed by growth of 19% in room air conditioners (AC), 31% in commercial refrigeration products and 78% in air coolers. Growth in AC was led by sale in Inverter category AC.

The company continues to be the market leader and has sustained its No.1 position in room air conditioner business with its market share at 25.9% YTD August 2021.

Segment revenue at Rs 1007 crore, increased by 34% as compared to Rs 750 crore in the corresponding quarter last year.

Electro-Mechanical Projects and Services segment revenue for the quarter was at Rs 536 crore as compared to Rs 744 crore in the corresponding quarter last year, down 28% YoY. Carry forward order book of the segment was at Rs 5803 crore as compared to Rs 6649 crore in the corresponding quarter last year.

Engineering Products and Services segment revenue for in Q2 FY22 was Rs 125 crore, up by 34% from Rs 93 crore in Q2 FY21.

Profit before tax (PBT) in Q2 FY22 stood at Rs 143 crore, up by 24% from Rs 223 crore in Q2 FY21.

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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