India's Voltas posts rise in Q1 profit on surge in AC sales

Blue Star

11/08/2023 15:34

Aug 11 (Reuters) - Tata Group company Voltas  VOLT.NS 
reported nearly a 19% rise in first-quarter profit on Friday,
boosted by the performance of its arm that makes air
conditioners and air coolers.
    Consolidated net profit rose to 1.29 billion Indian rupees
($15.58 million) for the quarter ending June 30 from 1.09
billion rupees a year earlier. 
    Income from operations rose nearly 22% to 33.35 billion
rupees.
    Its mainstay unitary cooling products segment, which makes
goods such as air conditioners, coolers and purifiers, reported
a 16% rise in revenue and a 15% increase in volume growth.
    Earlier, rivals Blue Star  BLUS.NS  and Havells India
 HVEL.NS  also posted a rise in their quarterly earnings.
    Voltas shares closed down 0.98% at 828.55 rupees ahead of
the results.

    ($1 = 82.8070 Indian rupees)

 (Reporting by Ashna Teresa Britto and Ashish Chandra; Editing
by Varun H K and Sohini Goswami)
 ((AshnaTeresa.Britto@thomsonreuters.com;))