NEW DELHI, Aug 15: Voltas reported a 53 per cent year on year increase in consolidated net profit to ₹214 crore for the June quarter, supported by stronger operating performance and higher revenue.
The company’s revenue from operations rose 19 per cent to ₹4,673.50 crore during the first quarter of the financial year, reflecting continued demand across its business segments.
The Tata Group company also announced a joint venture with Atomberg Technologies to manufacture air conditioner compressors, strengthening its focus on expanding domestic manufacturing capabilities.
The partnership is expected to support the development and production of key components for cooling products, an area that has gained importance as India seeks to deepen its domestic electronics and appliance supply chains.
Voltas’ latest quarterly performance comes amid growing demand for cooling appliances and increasing competition in India’s consumer durables market.
The company is also focusing on improving its product portfolio and manufacturing ecosystem as it seeks to benefit from long-term growth in the country’s air conditioning market.
The strong June quarter results and new manufacturing partnership provide Voltas with additional momentum as it enters the remainder of the financial year.