Voltas shares climb 5% as room AC sales hit 10 lakh units in three months

Shares of Voltas Ltd climbed 5 per cent in Monday's trade after the Tata group-owned firm informed BSE and NSE that it has sold 10 lakh air conditioners so far in the ongoing financial year. The company said it achieved the landmark in record time, further strengthening its dominant leadership position in the Indian room air-conditioner (RAC) market. Demand continued to remain encouraging across markets, said Voltas' Head for room air conditioner business, Jayant Balan. 

"We look forward to building on this momentum, reaching more households across the country and achieving many more milestones in the months ahead," he said.

Following the development, the stock rose 5.14 per cent to hit a high of Rs 1,411 apiece.

Voltas said it refreshed product portfolio with a clearly defined segmentation strategy, offering differentiated propositions across premium, mid and value segments. This enabled Voltas to address a wider spectrum of consumer needs while strengthening its presence across key price points and customer segments, the company informed stock exchanges. 

Managing Director, Mukundan Menon said: “Crossing the one million sales milestone within the first 3 months of a financial year is a significant achievement for Voltas. Achieving this landmark in record time reflects the trust that consumers have placed in our brand and the strength of the execution delivered by our teams
and channel partners across the country."
 
For the March quarter, on a consolidated basis, Voltas had reported a net profit of Rs 116 crore on a revenue of Rs 4,888 crore. Apart from RAC, Voltas has expanded into the home appliances segment through a wide range of innovative products under Voltbek Home Appliance Pvt Ltd. The company’s portfolio also includes commercial refrigeration, air coolers, water heaters, fans, water dispensers, water coolers, and commercial air conditioning products. 

"With summer continuing across several parts of the country, Voltas remains focused on serving the growing cooling needs of Indian consumers while further strengthening its position as India’s No. 1 AC brand," Voltas said.