Voltas on January 29 reported a net profit of Rs 132 crore in the quarter which ended on December 31. This marks a strong comeback from the Rs 30 crore loss reported in the corresponding quarter of the previous financial year.
The company's revenue from operations during the period rose 18 percent year-on-year to Rs 3,105 crore. It had reported Rs 2,626 crore revenue from operations in Q3 of FY24.
Voltas reported a total income of Rs 3,164 crore in the Q3. This marks a sharp rise from the Rs 2,684 crore income earned in Q3 of previous financial year.
Also read: Our LIVE Blog on Q3 results
Along with the Q3 results, Voltas announced certain changes to its leadership. The company's current Managing Director & CEO Pradeep Bakshi has expressed his desire to not be reappointed after his current term ends on August 31, 2025. The company's board has approved the appointment of Mukundan Menon as the Managing Director and Sonia Singh as an additional director and non-executive independent director. The appointments however are subject to shareholders' approval.
The Q3 results and other announcements were released in the post-market hours of January 29. Ahead of the Q3 results, the shares of the company closed 3 percent higher at Rs 1,476 apiece.
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