HDFC Bank has also rebounded sharply and surpassed the resistance zone of moving averages ribbon on the daily chart
Voltas Ltd, a Tata Group company and leading air-conditioner manufacturer, on Wednesday reported a 49 per cent jump in its consolidated net profit at Rs 239 crore for the quarter ended March 31, 2021.
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The company had posted a net profit of Rs 87.95 crore in the same quarter last fiscal year
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Better than expected performance, market share gains in room ACs improve earnings outlook
In Q2FY21,Voltas reported a healthy performance with consolidated revenue grew by 13 per cent year-on-year to Rs 1,613 crore led by revenue growth in all three segments.
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Air conditioning firm gains market share in room ACs, improves margins
The company gained market share in room air conditioners, improved margins
Its operating revenue plunged 51 per cent to Rs 1,297 crores from Rs 2,654 crores last year
Total income of the company during the quarter under review stood at Rs 1,364.34 crore, down 49.41 per cent from Rs 2,697.27 crore in the year-ago period
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But, analysts have lowered earnings estimate due to high channel inventory