India's Voltas tumbles on weak Q3 margin, market share loss in key segment

Voltas

30/01/2025 05:59

** India's Voltas  VOLT.NS  falls 13% to 1,281.15 rupees,
lowest level in nearly eight months
    ** Stock on path to log biggest single-day fall since March
2020
    ** Co posts higher Q3 profit but analysts flag margin
deterioration and market share loss in core segment
    ** VOLT down after margin contraction in core unitary
cooling products segment and market share loss in sub-segment
room air conditioners in Q3
    ** Unitary cooling products segment margin for Q3 at 5.9%,
lowest in 10 years, vs expectation of 7.8%, Motilal Oswal says
    ** Motilal Oswal, which has "buy" rating on stock, says it
will review its assumptions after VOLT's post-earnings call on
Thursday
    ** Analysts' avg rating on stock is "hold"; median PT 1,775
rupees - data compiled by LSEG

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com))