Voltas Ltd on Monday released its fiscal first quarter earnings with profit at Rs 334.23 crore, posting a growth of 158.5 per cent in comparison to Rs 129.29 crore during the corresponding quarter of FY24. Voltas said that the Q1 profit was the highest quarterly profit reported by the company. It reported revenue from operations at Rs 4921.02 crore, up 46.5 per cent as against Rs 3359.86 crore during the same period of previous financial year. The company EBITDA stood at Rs 424 crore.
Voltas also announced that the company achieved an extraordinary milestone of 1 million AC sales during the first quarter of FY25. It also reported a volume growth of 67 per cent in Q1FY25 in Unitary Cooling Products.
Voltas Q1 performance across segments
Unitary Cooling Products: The segment, Voltas said, continued to outperform the market and maintained its growth momentum. Overall volume grew by 67 per cent. “Voltas continues to be a market leader both in split and window air-conditioners with an Exit Market Share of 21.2 per cent as at June 2024. The overall segment revenue grew by 51 per cent to Rs 3,802 crore as compared to Rs 2,514 crore in the corresponding quarter last year. Segment result during the quarter grew by 58 per cent to Rs 327 crore.
Electro-Mechanical Projects and Services: This segment comprises both domestic and international projects businesses. The domestic projects business with presence in MEP, water, electrical & solar has grown due to a healthy carry forward order book, the company said, while adding that timely execution, focus on completion certification and other related project management initiatives have resulted in a robust bottom-line growth. “The Domestic Projects continues to grow its order pad and retains a positive outlook, given the increased infrastructure spending in the country,” it stated. For international projects business, projects in UAE and Saudi continue to deliver good performance and drive the revenue growth for the business. Strong project execution, timely assessment of cost and profitability have ensured a better bottom-line performance after facing challenges for the last few quarters. Segment revenue for the quarter was higher by 40 per cent, at Rs 949 crore as compared to Rs 679 crore in the corresponding quarter last year. Segment result was Rs 68 crore as compared to loss of Rs 52 crore in the corresponding quarter last year due to provisions made on account of delayed collection in overseas projects.
Engineering Products and Services: The segment continued to show a steady performance on the back of a strong order backlog and disciplined execution efforts, Voltas said. Revenue for the quarter was higher at Rs 161 crore as compared to Rs 142 crore in the corresponding quarter last year. Segment result was Rs 45 crore as compared to Rs 54 crore in the corresponding quarter last year.