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Voltas Ltd Q4FY23 PAT down -21.2% at Rs144cr on 20% surge in material costs

Apr 27, 2023

By: BlinkX Research Team

Voltas reported 10.9% surge in total revenues for the March 2023 quarter on consolidated basis at Rs2,957cr. The top line performance boost came from the unitary cooling products which recorded revenue growth across ACs, CR and AR products. Voltas still dominates the room air conditioner market in India with 21.9% market share.

Unitary products showed a spike in revenues of 13% yoy at Rs2,049 crore. The electro mechanical projects divisions reported 8% higher revenues at Rs746 crore for the March 2023 quarter. The operating profits in the latest quarter were also impacted on a comparable basis due to weaker collections in the quarter.

Financial highlights for Mar-23 compared yoy and sequentially

	Voltas Ltd
Rs in Crore	Mar-23	Mar-22	YOY	Dec-22	QOQ
Total Income (Rs cr)	₹ 2,956.80	₹ 2,666.58	10.88%	₹ 2,005.61	47.43%
Net Profit (Rs cr)	₹ 143.92	₹ 182.70	-21.23%	₹ -110.38	N.A.

Diluted EPS (Rs)	₹ 4.35	₹ 5.52		₹ -3.34
Net Margins	4.87%	6.85%		-5.50%

Net profits fell in the latest quarter on a yoy basis. On a sequential basis, the company turned around from a loss to a profit. However, the loss in the December quarter was largely on account of the impact of an exceptional loss of Rs137 crore. This pertains to cancellation of an international contract and encashment of bank guarantees.