Voltas posts Q2 net profit of ₹36 crore, board approves raising up to ₹500 crore via NCDs

At the operating level, EBITDA jumped 30.2 percent to ₹70.4 crore in the second quarter of this fiscal over ₹101 crore in the corresponding period in the previous fiscal. CNBC-TV18 Poll had predicted an EBITDA of ₹126 crore for the quarter under review.

EBITDA margin stood at 3.1% in the reporting quarter as compared to 5.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 Poll had predicted a margin of 6% for the quarter under review.

The company's board has given the green light to a plan for generating up to ₹500 crore via the issuance of rated, listed, unsecured, redeemable non-convertible debentures (NCDs) through private placement.

These funds are earmarked for supporting capital expenditures associated with the construction of new manufacturing facilities in Chennai and Waghodia, Gujarat, the company added.

Profil before tax (PBT) was at ₹85 crore as compared to ₹13 crore in the corresponding quarter last year. Earnings per Share (Face value per share of Re. 1) (not annualised) as of September 30, 2023, was ₹1.05 compared to a negative of ₹0.22 last year.

The results came after the close of the market hours. Shares of Voltas Ltd ended at ₹839.30, up by ₹5.70, or 0.68 percent on the BSE.