Voltas lost 3.6% to Rs 73.70 at 11:50 IST on BSE after consolidated net profit fell 48.5% to Rs 40.75 crore on 0.6% decline in net sales to Rs 1601.78 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced after market hours on Tuesday, 13 August 2013.
Meanwhile, the S&P BSE Sensex was up 100.51 points or 0.52% at 19,330.35.
On BSE, 1.52 lakh shares were traded in the counter as against average daily volume of 2.23 lakh shares in the past one quarter.
The stock lost as much as 6.73% at the day's low of Rs 71.30 so far during the day. The stock hit a high of Rs 75 so far during the day. The stock had hit a 52-week high of Rs 138.50 on 27 September 2012. The stock had hit a 52-week low of Rs 71.15 on 2 August 2013.
The stock had underperformed the market over the past one month till 13 August 2013, sliding 8.88% compared with the Sensex's 3.65% fall. The scrip had also underperformed the market in past one quarter, declining 12.13% as against Sensex's 2.35% fall.
The small-cap company has equity capital of Rs 33.09 crore. Face value per share is Re 1.
Voltas' operating profit (profit before exceptional items & tax) declined 44.95% to Rs 60 crore in Q1 June 2013 over Q1 June 2012, on account of higher interest costs coupled with slowdown in the economy. Interest costs rose 48.4% to Rs 17.94 crore.
Voltas is an engineering solutions provider and project specialist. It 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, materials handling equipment, water management & treatment, cold chain solutions, building management systems and indoor air quality.
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