Voltas shares soar nearly 11% on Q4 profit

Stocks of Voltas Ltd today surged nearly 11 per cent after the company reported a 17.55 per cent increase in consolidated net profit for the fourth quarter ended March 31.
The stock ended the day 10.65 per cent higher at Rs 319 on the BSE. During the day, it climbed 11.34 per cent to Rs 321 -- its 52-week high.
At the NSE, it soared 10.51 per cent to end at Rs 318.90.
The company's market valuation rose by Rs 1,016.22 crore to Rs 10,555.22 crore.
Voltas yesterday reported a 17.55 per cent increase in consolidated net profit at Rs 118.04 crore for the fourth quarter ended March 31, 2014-15.

The company had net profit of Rs 100.41 crore in the January-March quarter of 2013-14.

Voltas' net sales in the fourth quarter of 2014-15 increased marginally by 2.32 per cent to Rs 1,484.09 crore from Rs 1,450.36 crore for the same period of last fiscal.
For the financial year 2014-15, the company had a net profit of Rs 384.33 crore. It was Rs 245.73 crore in the 2013-14 fiscal.
Voltas' Board of Directors have recommended a dividend of Rs 2.25 per share for the year 2014-15.
In the stock market, the BSE benchmark Sensex ended at 27,957.50, up 148.15 points.