Voltas shares tank over 9% after 23% dip in Q4 net profit

The company had posted a consolidated net profit of Rs 143.23 crore in the same period of the previous fiscal.

Voltas Ltd slipped over 9 per cent after the company reported a 23% decline in consolidated net profit (File Image)

Shares of air conditioning and engineering services provider Voltas Ltd on Wednesday (May 8) slipped over 9 per cent after the company reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in its Q4 results.

The company had posted a consolidated net profit of Rs 143.23 crore in the same period of the previous fiscal.

The stock plunged 9.13 per cent to Rs 1,261.65 per equity share on the BSE while it dropped 9.15 per cent to Rs 1,262 apiece at the NSE.

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

As per the exchange filings, consolidated revenue from operations was reported at Rs 4,202.88 crore, as against Rs 2,956.8 crore in the year-ago period.

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

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