- In Q4 FY 2022-23, Voltas Ltd. reported a decline in its consolidated net profit of 21.6% to 143.23 crore.
- In the reviewed FY 2022-23 compared to the prior year, operating revenue increased 11.5% to Rs 2,936.76 crore.
- Voltas’ combined net profit for the fiscal year that ended in March 2023 decreased by 73.07% to 136.22 crore.
- For the years 2022–2023, the company’s board has recommended a dividend of Rs. 4.25 per share with face value of Re 1/share.
Summary Table
| Information | Description |
|---|---|
| 🏢 Company | Voltas Ltd |
| 📅 Quarter | March 2023 quarter (Q4FY2022-23) |
| 💰 Net profit | Consolidated net profit of ₹143.23 crore, down 21.6% YoY |
| 💸 Revenue | Revenue from operations surged 11.5% to ₹2,936.76 crore |
| 💳 Expenses | Total expenses were at ₹2,761.45 crore, up 13.75% |
| 🌬️ Unitary Cooling Products | Revenue from unitary cooling products for comfort and commercial use up 12.65% |
| 🔌 Electro-mechanical projects and services | Revenue up 7.8% at ₹745.79 crore |
| 🔧 Engineering products and services | Revenue up 15.26% at ₹142.35 crore |
| 📊 FY23 Performance | Consolidated net profit down 73.07% to ₹136.22 crore, revenue up 19.87% at ₹9,399.37 crore |
| 💰 Dividend | Board recommends dividend of ₹4.25 per share for FY 2022-23 |
The manufacturer of air conditioners Voltas has reported a decline in its consolidated net profit of 21.6% to 143.23 crore for the quarter ending March 2023. The company, which is owned by the Tata Group, reported a combined net profit of 182.71 crore rupees the year before. However, compared to the prior year’s fiscal year (FY 2022-23), operating revenue increased 11.5% to Rs 2,936.76 crore.
Factors Affecting Profit
Voltas disclosed that “profit before and after taxes suffered during this quarter due to measures made on delayed collection in the international project business.” In Q4FY2022-23, the company’s total revenue increased 11.08% to 3,003.46 crore, while its total expenses increased 13.75% to 2,761.45 crore.
Revenue From Unitary Cooling Products
The company reports that, in the fourth quarter of FY23, revenue from “unitary cooling products for comfort and commercial use” was at 2,048.62 crore, up 12.65% from 1,818.41 crore in the previous quarter. the company reported that despite persistent rains and a decline in consumer confidence regarding discretionary spending, the Unitary Cooling Products business had relatively performed better.
Electro-Mechanical Projects and Services
The company’s revenue from electro-mechanical projects and services increased 7.8% in the March quarter to Rs 745.79 crore from Rs 691.81 crore.
Engineering Products and Services
Voltas’ revenue in the engineering products and services segment increased by 15.26% to 142.35 crore in the January-March quarter from 123.50 crore in the same quarter last year.
Consolidated Net Profit
In comparison to a net profit of 506 crore in FY22, Voltas’ consolidated net profit for the fiscal year that ended in March 2023 decreased by 73.07% to 136.22 crore. In FY 2022–23, its operating revenue increased 19.87% to Rs 9,399.37 crore. In FY22, it was 7,841.07 crore.
Dividend Recommendation
In a separate filing, Voltas stated that its board had recommended a dividend for the years 2022–2023 of 4.25 rupees per share on a face value of 1 rupee per share.