Leading domestic air conditioner manufacturer Voltas saw a nearly 9% increase in shares following the company’s announcement that sales increased by 35% to over two million units in FY24. Voltas is now the first business in the home market to achieve this milestone.
The company attributed its performance to consistent demand for cooling products during the year. It also cited a strong offline and online distribution network and new innovative launches as contributing factors.
As of 10:35 am, the shares were trading 8.41% higher at ₹1,335.90 on the National Stock Exchange (NSE).
“The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35%,” Voltas stated.
As a result of these historic sales, Voltas is now “the first ever brand to achieve this extraordinary milestone in the Air Conditioning industry in India.”