Voltas net jumps 22% in Q4, shares gain 6%

Its 6.79 lakh shares were traded on BSE, 63 lakh changed hands at NSE on Thursday

Extending its rally for the second straight session today, shares of Voltas jumped over 6 per cent after the company reported a 22 per cent jump in net profit for March quarter and announced a foray into home appliances market.

The stock soared 6.25 per cent to settle at Rs 475.50 on BSE. Intra-day, it gained 8.14 per cent to Rs 484.

At NSE, shares of the company advanced 6.32 per cent to close at Rs 474.75.

In terms of volume, 6.79 lakh shares of the company were traded on BSE and over 63 lakh shares changed hands at NSE during the day.

Shares of Voltas had zoomed 9 per cent yesterday. It added Rs 2,175.57 crore in market valuation in two days.

Tata Group firm Voltas yesterday reported 22.06 per cent increase in consolidated net profit at Rs 200.47 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 164.23 crore in the January-March quarter a year ago.

Voltas' total income during the period under review was up 10.20 per cent to Rs 2,096.86 crore, as against Rs 1,902.62 crore in the corresponding quarter a year ago.

Voltas and Turkey's Arcelik have decided to set up a $100 million joint venture for making a foray into India's consumer durables market.