Voltas net jumps 49% to Rs 239 cr

New Delhi Voltas Ltd, a Tata Group company and leading air-conditioner manufacturer, on Wednesday reported a 49 per cent jump in its consolidated net profit at Rs 239 crore for the quarter ended March 31, 2021.

Its consolidated net profit was Rs 160 crore in the January-March quarter of the last fiscal. Total income in the January-March quarter jumped 25 per cent to Rs 2,683 crore as compared with Rs 2,150 crore in the year-ago period, Voltas said in a regulatory filing. Voltas' revenue from unitary cooling products for comfort and commercial use was up 20 per cent at Rs 1,437 crore, compared with Rs 1,199 crore a year ago. Voltas said the cooling products business made good recovery, after easing of the lockdown situation, and achieved overall volume growth of 18 per cent. Revenue from electro-mechanical projects and service also increased 37 per cent to Rs 1,104 crore, against Rs 805 crore a year ago. Revenue from engineering products and services was at Rs 98 crore, compared with Rs 95 crore in the corresponding quarter of last year.