Voltas shares dropped nearly 9% after the release of its Q1 earnings.
The fall reflects market concerns over the company's quarterly financial performance.
Investors reacted negatively, likely due to lower-than-expected results.
Voltas Shares Plunge Nearly 9% After Weak Q1 Earnings
Disappointing quarterly results trigger heavy selling in Voltas stock.
Voltas
Summary
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"The quarter was marked by unseasonal and unpredictable weather conditions. The onset of summer was delayed, temperatures remained relatively mild, and the season concluded abruptly due to the early monsoon.
"This resulted in a sharp decline in demand for cooling products, particularly in the case of air conditioners," Voltas said in its earnings statement. Shares of air-conditioning maker and engineering services provider Voltas Ltd on Monday tumbled nearly 9% after the firm reported a decline of 58% in consolidated net profit for the June quarter.
The stock tanked 7.78% to ₹1,202.20 on the BSE.
At the NSE, it dropped 8.65% to ₹1,192.
Voltas Ltd on Friday reported a decline of 58% in its consolidated net profit to ₹140.61 crore for the June quarter, as unseasonal rains and early arrival of monsoon impacted the cooling business.
It had posted a consolidated net profit of ₹335 crore in the April-June period a year ago, according to a regulatory filing from the Tata Group firm.
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The company's revenue dropped by 20.22% to ₹3,912.29 crore in the June quarter of FY26. In the year-ago period, the same was ₹4,903.91 crore
"The quarter was marked by unseasonal and unpredictable weather conditions. The onset of summer was delayed, temperatures remained relatively mild, and the season concluded abruptly due to the early monsoon.
"This resulted in a sharp decline in demand for cooling products, particularly in the case of air conditioners," Voltas said in its earnings statement.
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