LAST UPDATED: May 13, 2021, 3:22 p.m.
New Delhi (Anish Yande): Shares of Voltas declined by 5 percent on Wednesday’s trading session ahead of the announcement of its results for the quarter ended March 2021. Voltas share opened at Rs 1,024 per share from its previous close of Rs 1,010.25 per share on Monday. The shares of the home appliance company declined to Rs 961 per share.
Voltas net profit rises to Rs 239 crore in Q4 FY21:
Voltas has reported a net profit of Rs 160 crore in the March quarter of FY20. The air-conditioner manufacturer’s net profit rose to Rs 239 crore in Q4 FY21. The net profit increased 49 percent on a year-on-year basis.
The profit after tax of the home appliances manufacturer increased to Rs 321 crore in the quarter ended March 31, 2021, as compared to the revenue at Rs 217 crore in the corresponding quarter of the previous fiscal. Profit after tax rose by 47.9 percent YoY. The profit after tax grew 2 percent on a year-on-year basis to Rs 529 crore in FY21.
Consolidated total income of Voltas for the quarter ended March 31, 2021, rose by 25 percent from Rs 2,150 crore in the corresponding quarter last year to total income rose to Rs 2,683 crore in Q4 FY21.
The consolidated total income in FY20 was at Rs 7,889 crore that declined to Rs 7,745 crore in the year ended March 31, 2021, at a decrease of 1.82 percent.
Revenue of Voltas in several segments increases:
The revenue of the Electro-Mechanical Projects and Services segment grew to Rs 1,104 crore in the March quarter of 2021 as compared with Rs 805 crore in Q4 FY20, at an increase of 37 percent.
Engineering Products and Services segment revenue in Q4FY20 was at Rs 95 crore as compared to Rs 98 crore in Q4 FY21, at an increase of 3.2% YoY.
Voltas’ revenue from the unitary cooling products for comfort and commercial usage increased to Rs 1,437 crore, at an increase of 20 percent as compared to Rs 1,199 crore in the previous year.
The board of directors at Voltas recommended a dividend of Rs 5 per share at a face value of Rs 1 per share for the financial year 2020-21 to be subject to the approval of shareholders.
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