Voltas Q3 profit jumps 46% at Rs 129 cr

Tata Group company Voltas Ltd on Friday reported 46.26 percent increase in consolidated net profit at Rs 128.64 crore for December quarter 2020-21. The company had posted a net profit of Rs87.95crore in the same quarter last fiscal year, Voltas said in a regulatory filing.

Total income during the period under review stood at Rs 2,046.26 crore, up 32.29 percent, as against Rs 1,546.76 crore in the year-ago quarter, the company said. Voltas, a leading air-conditioner manufacturer, said the cooling products business made a good recovery, post easing of the lockdown restrictions and achieved a record overall volume growth of 40 per cent.

Voltas’ revenue from unitary cooling products for comfort and commercial use segment increased 40 percent to Rs 840 crore as compared to Rs 601 crore in the corresponding quarter last year.