Voltas shares hit record high after net profit more than doubles in Q1

Shares of Voltas Ltd zoomed 11% to a record high in the afternoon session on Monday after the household appliances major reported its Q1 earnings. Voltas stock climbed 10.95% to a record high of Rs 1,587 against the previous close of Rs 1430.25 on BSE. Market cap of the firm climbed to Rs 52,206 crore. Voltas stock opened higher at Rs 1502.90 today.

Voltas shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large cap stock has gained 90.53 per cent in a year and gained 61 per cent in 2024.

Total 6.29 lakh shares of the firm changed hands amounting to a turnover of Rs 97.79 crore on BSE. The stock fell to a 52-week low of Rs 794.15 on August 14, 2023.

The company clocked a 160% rise in consolidated net profit at Rs 335 crore in the April-June quarter against Rs 129 crore proifit in the same period last year. Revenue from operations climbed 46.5% to Rs 4,921 crore in Q1. However, expenses rose to Rs 4,520 crore in the last quarter against expenses of Rs 3,196 crore jump in inventory and material costs.

EBITDA rose 129% to Rs 424 crore in the June quarter against Rs 185 crore in the Q1 of previous fiscal. Operating margin climbed to 8.6% in Q1 against 5.5% in the first quarter of previous fiscal.

Profit before tax rose 123% to Rs 452 crore, the firm's highest ever quarterly profit compared to Rs 203 crore in the corresponding quarter last year.