Voltas Reports Over Two-Fold Increase in Q1 Profit Driven by Soaring AC Sales

VOLTAS

India: India's Voltas reported a significant more than two-fold increase in its first-quarter profit, driven by soaring demand for air conditioners and coolers amid unprecedented heatwaves across the country. The company's consolidated net profit rose to 3.34 billion rupees (approximately 40 million USD), compared to 1.29 billion rupees (approximately 15 million USD) in the same period last year. Revenue from operations saw a 47% increase, reaching 49.04 billion rupees (approximately 58 million USD), with the cooling products segment experiencing a robust 51% growth. 

Source: Reuters