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Voltas Shares Soar Over 10% On Q4 Earnings Boost

Shares of Voltas soared over 10 per cent to one-year high level after the company reported a 22 per cent increase in consolidated net profit for the fourth quarter ended March 31

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Shares of Voltas on Wednesday (24 May) soared over 10 per cent to one-year high level after the company reported a 22 per cent increase in consolidated net profit for the fourth quarter ended March 31.

The stock surged 10.12 per cent to touch its one-year high of Rs 451.25 on BSE. At NSE, shares of the company advanced by 9.99 per cent to Rs 450.80 -- its 52-week high. 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 said in a BSE filing. 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 of the corresponding quarter a year ago.

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

(PTI)


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