Voltas records 54% rise in Q1FY17 net profit

Air conditioner maker Voltas reported consolidated net profit of Rs 157.62 crore for the June quarter ended 2016 (Q1FY17), registering a growth of 53.71% yoy (year-on-year).

The company’s consolidated total income stood at Rs 1855.18 crore, rising by 18.59% yoy.

While its operating profit (EBITDA- earnings before interest tax depreciation and amortization) was at Rs 199.54 crore, increasing by 51.97% yoy, its operating profit margin (OPM) was at 10.75%, expanding by 236 basis points year-on-year.

On standalone basis, the company recorded net profit of Rs 104.96 crore, growing by 35.57%. While its total income stood at Rs 1654.88 crore, up by 7.34% yoy.

It’s standalone operating profit stood at Rs 116.17 crore, surging by 28.52% yoy. However, the OPM was at 9.71%, which showed minor contraction of 3 basis points year-on-year.

The consolidated top-line was tapped by robust performance in segment such as unitary Cooling Products for Comfort and Commercial use, rising by 28.86% to Rs 1195.62 crore in this quarter from Rs 927.81 crore in June,2015. 

However, the share price of Voltas has slumped by 1.54% to Rs 365 despite positive June quarter.