Voltas said profit before and after tax were impacted during the current quarter due to provisions made on delayed collection in the international project business. Shares of Voltas Ltd ended at Rs 855.05, up by Rs 11.45, or 1.36 percent on the BSE.
Voltas Ltd on Wednesday, April 26, reported a 21.7 percent year-on-year (YoY) decline in consolidated net profit at Rs 143.2 crore for the fourth quarter that ended March 31, 2023.
In the corresponding quarter last year, the air-conditioning and engineering services company posted a net profit of Rs 183 crore. CNBC-TV18 Polls had predicted a profit of Rs 191 crore for the quarter under review.
In the March quarter, total revenue stood at Rs 2,956.8 crore during the period under review, up 10.9 percent against Rs 2,667 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted a revenue of Rs 2,988 crore for the quarter under review.
At the operating level, the EBITDA declined 16.4 percent to Rs 218.2 crore in the fourth quarter of this fiscal over Rs 261 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 7.4 percent in the reporting quarter as compared to 9.8 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Profit before share of profit or loss of joint ventures/associates and tax was at Rs 242 crore compared to Rs 276 crore in the corresponding quarter last year. Profit before and after tax were impacted during the current quarter due to provisions made on delayed collection in the international project business, the company said.
Shares of Voltas Ltd ended at Rs 855.05, up by Rs 11.45, or 1.36 percent on the BSE.