Tata Group‘s Voltas posted its earnings for the quarter ended June on Monday morning before the market opened. Voltas’ share price rocketed around 9% as soon as the market opened to hit a new 52-week high of ₹1,563.

What Happened: The company’s consolidated net profit for the quarter came in at ₹334.23 crore, up around 158% from the ₹129.29 crore reported at the end of the same quarter last year. Revenue from operations for the quarter under review stood at ₹4,921 crore, an increase of around 46% from the ₹3,335 crore posted in the same quarter last year.

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As per the consumer durable major, the Unitary Cooling Products business continued to outperform the market, maintaining strong growth momentum with a 67% increase in overall volume. The company sold 10 lakh air conditioners in the April-June quarter.

Voltas remains the market leader in both Split and Window Air-conditioners, with an exit market share of 21.2% as of June 2024. The Segment Revenue saw a significant 51% growth, reaching ₹3,802 crores compared to ₹2,514 crores in the same quarter last year.

Price Action: Voltas’ share price was up 5.46% to trade at ₹1,506.90 as the markets opened on Monday

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