Total income increased by 11% year on year to Rs 3003.46 crore during the quarter.

Profit before tax declined 13.36% to Rs 214 crore in Q4 FY23 as compared with Rs 247 crore posted in same quarter last year.

“Profit before and after tax was impacted during the current quarter due to provisions made on delayed collection in the international project business.” the company stated in regulatory filing.

The revenue of Unitary Cooling Products business has relatively performed better amid the lower consumer sentiment towards discretionary spend and incessant rains in March 2023. The segment achieved volume growth across, AC, CR and AR products during the quarter. Segment Revenue increased by 13% and was at Rs 2,049 crore as compared to Rs 1,818 crore in the corresponding quarter last year.

The Electro-Mechanical Projects and Services segment revenue for the quarter was higher by 8%, at Rs 746 crore as compared to Rs 692 crore in the corresponding quarter last year. Domestic projects booked orders worth Rs 1910 crore during the quarter as compared to Rs 848 crore in the corresponding quarter last year.

The Engineering Products and Services segment revenue for the period under review was Rs 143 crore, up by 155.36% YoY.

On full year basis, the company's consolidated net profit declined 73.12% to Rs 136 crore in FY23 as against Rs 506 crore recorded in FY22. Total income jumped 18% year on year to Rs 9,667 crore in FY23.

The board has recommended dividend of Rs 4.25 per share for the FY23, subject to shareholders' approval.

Voltas is a premier air conditioning and engineering solutions provider and a projects specialist. The company is part of the Tata Group. In addition to room air conditioners, it also has air coolers, air purifiers, water dispensers, water coolers, commercial refrigeration and commercial air conditioning products in its portfolio.