Voltas Ltd, a prominent AC maker, witnessed a decline in its shares on May 7 following the release of its negative Q4 results. The company reported a 19% decrease in consolidated net profit (attributable to owners), amounting to Rs 116 crore for the quarter ended March 31, 2024, compared to Rs 144 crore in the same period last year.
Despite a 42% increase in consolidated revenue from operations, reaching Rs 4,203 crore in Q4FY24, up from Rs 2,957 crore in Q4FY23, the decline in net profit led to a drop in share prices.
Voltas’ shares closed trading 4.4% lower at Rs 1,382.7 apiece on May 7. Additionally, the company’s board recommended a dividend of Rs 5.5 per share for the year 2023-24, based on a face value of Re 1 per share.
As of 11:15 am, the shares were trading 4.70% lower at ₹1,323.85 on NSE.