Voltas shares rise over 9% to hit 52-week high after Q1 net profit more than doubles to ₹335 crore

Global air conditioning and engineering services provider Voltas Ltd on Monday reported a more than two-fold jump in net profit to ₹335 crore for the April-June quarter of FY25, sending its shares higher by 9.38% to year-high levels in early trade.

According to a release, the Tata Group reported a net profit of ₹129 crore for the first quarter of 2023-24.

The total income of the company jumped by 46% to ₹5,001 crore in the first quarter of FY25 compared to ₹3430 crore in the first quarter of FY24, according to the release.

The company’s profit before tax increased 123% to ₹452 crore in the April-June quarter of FY25 against ₹ 203 crore in the year-ago period.

The company stated that its Unitary Cooling Products business continued to outperform the market and maintained its growth momentum. Overall volume grew by 67%.

Segment revenue grew by 51% to ₹3,802 crore in Q1FY25 compared to ₹2,514 crore in the corresponding quarter last year.

Voltas maintained its market leadership both in Split and Window Air-conditioners with an Exit Market Share of 21.2% as of June 2024.

The company’s Domestic and International Projects businesses under the Electro-Mechanical Projects and Service segment reported a revenue of ₹949 crore in Q1 of FY25 against ₹679 crore in the year-ago period.

Engineering Products and Services segment revenue rose to ₹161 crore compared to ₹142 crore in the corresponding quarter last year.

Shares of Voltas Ltd. rose by 9.38% to hit a 52-week high of 1,563 per share on the NSE on Monday, following the company's robust performance in the first quarter of FY25.

Volats shares have soared around 57% in 2024 so far. In the past year, the stock has gained around 86%. The stock hit a 52-week low of ₹794.20 on August 14, 2023.

Voltas shares were trading 7.75% higher at ₹1,539.55 apiece on the NSE at 10:17 am.