Voltas pre-tax profit drops 58% in June quarter; revenue plunges 51%

Voltas reported a 58 per cent year-on-year (YoY) decline in its profit before tax (PBT) for the April-June quarter. During the period, the Mumbai-headquartered appliances firm’s consolidated PBT stood at Rs 108 crores, compared to Rs 258 crores in the corresponding quarter last year.

Its operating revenue plunged 51 per cent to Rs 1,297 crores from Rs 2,654 crores last year, as lockdown and the pandemic severely impacted sale of cooling products across the country. 

During the quarter, the company was able to sell around 290,000 AC units and still continues to be the market leader, the company informed the BSE.