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Voltas share price falls over 2% after Q1 profit slips 51%

Share price of Voltas declined 2.38% intra day to Rs 603.80 against previous close of Rs 618.50 on BSE

twitter-logoBusinessToday.In | August 14, 2020 | Updated 18:56 IST
Voltas share price falls over 2% after Q1 profit slips 51%
Voltas share has gained 4% in one year and lost 6.7% since the beginning of this year

Voltas share price fell over 2% intra day after the Tata Group firm reported a 50.83 per cent fall in net profit to Rs 81.77 crore for the first quarter ended June 30, impacted by COVID-19 pandemic. In the corresponding quarter of previous fiscal, the firm reported consolidated net profit of Rs 166.32 crore.

Share price of Voltas declined 2.38% intra day to Rs 603.80 against previous close of Rs 618.50 on BSE. Total income of the company during the quarter under review stood at Rs 1,364.34 crore, down 49.41 per cent from Rs 2,697.27 crore in the year-ago period, Voltas said.  Voltas share trades higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Voltas share has gained 4% in one year and lost 6.7% since the beginning of this year. During one month, the share has gained 12.34%. Market cap of the firm stood at Rs 20,354 crore on BSE.

Total income of the company in Q1 stood at Rs 1,364.34 crore, down 49.41 per cent from Rs 2,697.27 crore in the year-ago period, Voltas said.

"The group's operations and financial results for the quarter ended June 30, 2020, have been impacted due to outbreak of COVID-19 pandemic and consequent lockdown," Voltas said.

Tata Steel stock gains over 4% post Q1 earnings

Meanwhile, domestic benchmark indices ended 1%  lower each on Friday led by selling pressure in auto and banking stocks amid negative global equities. Sensex ended 433 points lower at 37,877 and Nifty fell 122 points to end at 11,178.

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