TATA Group stock an India-based air conditioning and engineering solutions provider jumped upto 10 percent in the day’s trade upon posting its Q4FY24 results with a 203 percent jump in Net Profits.
Price Action
With a market Capitalization of Rs. 50,780 Crores, the shares of Voltas Limited were trading at Rs. 1,518.75 per equity share, up 7 percent from its previous day’s close price of Rs. 1,430.25.
About the Company
Voltas Limited is an India-based air conditioning and engineering solutions provider and a projects specialist engaged in offering products and services like air conditioning, refrigeration, and electro-mechanical projects as an EPC contractor both in domestic and international geographies, engineering product services, and many more.
As of June 2024, Voltas Limited is a market leader both in Split and Window Air-conditioners with an Exit Market Share of 21.2 percent
Q1FY25 Results
Its Revenue from operations grew by 46 percent YoY from Rs. 3,429.83 Crores in Q1FY24 to Rs. 5,001.27 Crores in Q1FY25 and it grew by 17 percent QoQ from Rs. 4257.3 Crores in Q4FY24 to Rs. 5,001.27 Crores in Q1FY25.
Its Net Profit grew by 159 percent YoY from Rs. 129.42 Crores in Q1FY24 to Rs. 335 Crores in Q1FY25 and grew by 203 percent QoQ from Rs. 110.64 Crores in Q4FY24 to Rs. 335 Crores in Q1FY25. Its Net Profit Margin increased from 3.77 percent in Q1FY24 to 6.69 percent in Q1FY25.
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Segment Performance Updates
The Unitary Cooling Products business continued to outperform the market and maintained its growth momentum with a growth of 67 percent in Overall volume.The overall Segment Revenue grew by 51 percent to Rs.3,802 crores as compared to Rs.2,514 crores in the corresponding quarter last year.
Voltas continues to be a market leader both in Split and Window Air-conditioners with an Exit Market Share of 21.2 percent as of June 2024.
The Electro-Mechanical Projects and Services Segment Revenue for the quarter grew by 40 percent at Rs.949 crores compared to Rs. 679 crores in the corresponding quarter last year. The Segment Result was Rs.68 crores as compared to a loss of Rs.52 crores in the corresponding quarter last year due to provisions made on account of delayed collection in overseas projects
The Engineering Products and Services Segment continued to show a steady performance on the back of a strong order backlog and disciplined execution efforts.
The revenue for the quarter was higher at Rs.161 crores than Rs.142 crores in the corresponding quarter last year. Segment Result was Rs.45 crores as compared to RS.54 crores in the corresponding quarter last year.
Written by: Bharath K.S
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