 "Voltas rallies on strong June quarter results")
Voltas has rallied 5% to Rs 213 on National Stock Exchange (NSE) after reporting an over two-fold jump in consolidated net profit at Rs 109 crore for the first quarter ended on June 30, 2014 (Q1), on back of strong operational performance. The company had a consolidated net profit of Rs 41 crore in the April-June quarter of the previous fiscal.
The company’s consolidated net sales increased 9% to Rs 1,752 crore during the quarter under review as against Rs 1,602 crore in the same period a year ago. Total expenses grew 4.7% to Rs 1,632 crore on year-on-year basis.
The operating profit was substantially higher at Rs 146 crore as compared to Rs 60 crore in the corresponding quarter last year.
Electro-mechanical projects and services segment recorded PBIT (profit before interest and tax) of Rs 4.4 crore against loss of Rs 26 crore.
The stock opened at Rs 212 and hit a high of Rs 215 on NSE. A combined 2.17 million shares changed hands on the counter so far on NSE and BSE.
The company’s consolidated net sales increased 9% to Rs 1,752 crore during the quarter under review as against Rs 1,602 crore in the same period a year ago. Total expenses grew 4.7% to Rs 1,632 crore on year-on-year basis.
The operating profit was substantially higher at Rs 146 crore as compared to Rs 60 crore in the corresponding quarter last year.
Electro-mechanical projects and services segment recorded PBIT (profit before interest and tax) of Rs 4.4 crore against loss of Rs 26 crore.
The stock opened at Rs 212 and hit a high of Rs 215 on NSE. A combined 2.17 million shares changed hands on the counter so far on NSE and BSE.