In the corresponding quarter, Voltas posted a net profit of ₹143.2 crore, the company said in a regulatory filing.
The company's revenue from operations jumped 42.1% to ₹4,202.9 crore against ₹2,957 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal over ₹218 crore in the corresponding period in the previous fiscal.
Also Read: IRB Infrastructure Q4 Results | Net profit surges 45%, dividend declaredThe EBITDA margin stood at 4.5% in the reporting quarter compared to 7.4% in the corresponding period in the previous fiscal.
Total expenses in the fourth quarter were higher at4,044.90 crore compared to2,761.45 crore in the corresponding period a year ago.
Leading residential air conditioner maker Voltas Ltd on Tuesday (May 7) reported a 22.8% year-on-year (YoY) drop in net profit at ₹110.6 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Voltas posted a net profit of ₹143.2 crore, the company said in a regulatory filing.
The company's revenue from operations jumped 42.1% to ₹4,202.9 crore against ₹2,957 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted revenue of ₹3,827 crore for the quarter under review.
At the operating level, EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal over ₹218 crore in the corresponding period in the previous fiscal. CNBC-TV18 poll had predicted an EBITDA of ₹287 crore for the quarter under review.
Also Read: IRB Infrastructure Q4 Results | Net profit surges 45%, dividend declared
The EBITDA margin stood at 4.5% in the reporting quarter compared to 7.4% 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 7.5% for the quarter under review.
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In the fourth quarter the unitary cooling products business segment revenue grew by 44% to2,955 crore as compared to2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said.The engineering products and services division clocked revenue of156 crore as compared to142 crore in the year-ago period, it added. Similarly, the electro-mechanical projects and services segment comprising both domestic and international projects businesses grew by 38% year-on-year due to a healthy carry forward order book position, it added.Voltas said for the fiscal ended March 31, 2024, consolidated net profit was higher at248.11 crore as compared to136.22 crore in the previous year. Total expenses in the fourth quarter were higher at4,044.90 crore compared to2,761.45 crore in the corresponding period a year ago.
Also Read: Navin Fluorine declares final dividend of ₹7 per share, posts drop in Q4 profit
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Consolidated revenue from operations in FY24 was at12,481.21 crore as against9,498.77 crore in FY23. The company said it achieved the milestone of 20 lakh AC sales in 2023-24.
The directors have recommended a dividend of ₹5.50 per share on a face value of ₹1 per share (550%) for the year 2023-24 which will be paid on or after the fifth day from the AGM if passed.
The results came after the close of the market hours. Shares of Voltas Ltd ended at ₹1,388.45, down by ₹58.75, or 4.06%, on the BSE.
