Voltas Q2 profit seen up 28% on lower tax, but operating margin may be flat

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26 Aug, 2025 12:21

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Mumbai-based engineering, HVAC, air conditioning, and refrigeration company Voltas' second quarter (July-September) profit is likely to grow 28 percent year-on-year to Rs 92 crore due to lower tax cost.

Revenue during the quarter is seen rising 14 percent to Rs 1,078 crore, from Rs 967 crore in year-ago, according to average of estimates of analysts polled by CNBC-TV18.

Operating profit is expected to increase 14 percent to Rs 78 crore but margin may be flat at 7.2 percent compared with corresponding quarter last fiscal.

The Q2 was seasonally weak quarter for air conditioning business. Hence, higher margin in electro-mechanical projects (EMP) may offset margin crunch in air conditioning business.

Key issues to watch out for would be GST impact/restocking; festive sale demand; market share; sustainability of margin in EMP and growth in unitary cooling products segment.