Voltas surges on cooling products-led beat in earnings
Reuters Posted online: Friday, May 30, 2014 at 0000 hrs
Shares in Voltas Ltd
surge 4 percent after Jan-March earnings came in sharply ahead of some analysts estimates, led by strong margin expansion in its cooling products business.
Jan-March margins for cooling products rose to 16.8 per cent from 12.8 percent in the same quarter last year, Reuters calculations from company data show.
Voltas' March-quarter profit grew to 1 billion rupees from 89 million rupees in the same quarter last year.