Voltas, a leading player in the consumer durables market, saw a significant boost in its share price following the release of its quarterly earnings. Here’s a breakdown of what happened:
Key Highlights
- Impressive Net Profit Growth: Voltas reported a consolidated net profit of ₹334.23 crore for the quarter ending in June. This marks an impressive 158% increase from ₹129.29 crore in the same period last year.
- Strong Revenue Performance: The company’s revenue from operations reached ₹4,921 crore, up by 46% compared to ₹3,335 crore in the previous year.
- Unitary Cooling Products: The Unitary Cooling Products segment led the way, with a 67% growth in overall volume. Voltas sold 10 lakh air conditioners during the April-June quarter.
- Market Leadership: Voltas continues to dominate the market in both Split and Window Air-conditioners, holding a market share of 21.2% as of June 2024. The segment revenue rose by 51%, reaching ₹3,802 crore.
Stock Performance
- As of 9:35 am, Voltas shares were trading 6.48% higher at ₹1,521.45.
- The stock hit a new 52-week high of ₹1,563, reflecting the market’s positive response to the company’s strong quarterly performance.
Voltas has shown remarkable growth in both profit and revenue, solidifying its position in the market.
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