Growth, margin concerns emerge for Voltas

The 39% rise in net profit to Rs 80 cr was due to higher other income, not strong revenue growth

Voltas reported its December quarter (Q3) results after the market closed on Tuesday.  Having outperformed expectations in a decent manner, it was natural to expect the Voltas stock to trade high on Wednesday. But no. It traded flat on concerns over outlook for growth and operating profit margin.
 
To begin with, the 38.7 per cent increase in net profit at Rs 80.2 crore was helped by other income of Rs 60 crore, and not by strong revenue growth. In fact, net revenue dipped 6.7 per cent from a year ago to Rs 1,174 crore in Q3. Second, a rise