Moneycontrol
Last Updated : Nov 06, 2018 02:50 PM IST | Source: Moneycontrol.com

Voltas Q2 profit jumps 12% YoY to Rs 107 crore; Room AC biz revenue grows 8%

Operating profit was reported at Rs 108.54 crore against Rs 87 crore that the company reported last year. This is a rise of 25 percent.

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Voltas reported a net profit of Rs 107 crore for the September quarter, a jump of 12 percent year on year to the profit of Rs 95.36 crore that was reported a year ago.

The manufacturer of air conditioners posted revenue of Rs 1,421.36 crore for the quarter under review. This is a growth of 37 percent from the revenue reported during the September quarter of FY18.

At an operating level, the earnings before interest, taxes, depreciation and amortization (EBITDA) was reported at Rs 108.54 crore against Rs 87 crore that the company reported last year. This is a rise of 25 percent.

Meanwhile, the operating margin was reported at 7.6 percent, down from 8.4 percent year on year.

The company told exchanges that its market share in room air conditioner market has improved to 25.6% in current quarter as compared to 23.2% in the corresponding quarter last year (in Multi-Brand outlets).

“Segment Revenue for the quarter was higher at Rs 441 crore as compared to Rs 408 crore last year. The increase in input costs along with depreciating currency led to a drop in segment results to Rs 28 crore as compared to Rs 51 crore in the corresponding quarter last year,” the company further added.

The stock gained over 3 percent in the past one month, while in the last three days, it has fallen a percent. At 14:47 hrs Voltas was quoting at Rs 525.05, down Rs 15.25, or 2.82 percent, on the BSE. It touched an intraday high of Rs 549.00 and an intraday low of Rs 520.80.
First Published on Nov 6, 2018 02:50 pm
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