Voltas declines 8% post Q4 results

The stock declined 8% to Rs 539 on the BSE in early morning trade after the company reported 3% decline in its consolidated net profit at Rs 1.94 billion in March quarter.

Shares of Voltas have declined by 8% to Rs 539 per share on the BSE in early morning trade after the company reported 3% decline in its consolidated net profit at Rs 1.94 billion in March quarter (Q4FY18), due to poor performance of the engineering products and services business. The Tata Group company had profit of Rs 2 billion in the same quarter last fiscal. Gross revenue of the company during quarter under review remained flat at Rs 20.21 billion over the previous year quarter.

“The slowdown impact in engineering products and services segment due to demonetization and GST