On a consolidated basis, Voltas' net profit jumped 46.2% to Rs 128.64 crore on 32.5% rise in revenue from operations to Rs 1970 crore in Q3 FY21 over Q3 FY20.
Consolidated profit before tax jumped 39% year on year to Rs 165.84 crore in Q3 FY21 from Rs 119.3 crore in Q3 FY20. Total tax expense spiked 18.5% year on year to Rs 37.2 crore in Q3 FY21.The company's cooling products business made good recovery, post easing of the lockdown situation and achieved a record overall volume growth of 40% to Rs 840 crore, contributed by 43% increase in the sales volume of room Air conditioners (ACs), 100% in commercial refrigeration products and 11% in Air Coolers. Voltas continues to be the market leader and is at No.1 position in ACs with a YTD market share of 26% in December 2020. Segment revenue increased by 40% and was at Rs 840 crore as compared to Rs 601 crore in the corresponding quarter last year.
The electro-mechanical projects and services revenue for the quarter was higher by 26% to Rs 1017 crore in Q3 FY21 as compared to Rs 808 crore in the corresponding quarter last year. Carry forward order book of the segment was higher at Rs 7275 crore as compared to Rs 7024 crore in the corresponding quarter last year.
The engineering products and services segment Revenue and result for the quarter were at Rs 121 crore and Rs 32 crore as compared to Rs 83 crore and Rs 23 crore, respectively in the corresponding quarter last year.
Voltas is India's largest air conditioning company, and one of the world's premier engineering solutions providers and project specialists.
The scrip fell 3.39% to Rs 1063.75 on the BSE. It traded in the range of Rs 1131.20 and Rs 1060.55 so far during the day.
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