Voltas shares tank over 9% after Q4 earnings

New Delhi: Shares of air conditioning and engineering services provider Voltas Ltd on Wednesday tanked over 9 per cent after the company reported a 22.75 per cent decline in consolidated net profit in the fourth quarter ended March 31, 2024.

The stock plunged 9.13 per cent to Rs 1,261.65 on the BSE.

At the NSE, it dropped 9.15 per cent to Rs 1,262 apiece.

Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in the March quarter, impacted by higher expenses.

The company had posted a consolidated net profit of Rs 143.23 crore in the same period of the previous fiscal, Voltas said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 4,202.88 crore, as against Rs 2,956.8 crore in the year-ago period, it added.

Total expenses in the fourth quarter were higher at Rs 4,044.90 crore, compared to Rs 2,761.45 crore in the corresponding period a year ago.