Profit before tax (PBT) was higher by 27% at Rs. 203 crore as compared to Rs. 160 crore in the corresponding quarter last year.

Unitary Cooling Products business achieved an overall volume growth of 15% over the corresponding quarter last year. Segment revenue increased by 16% and was at Rs 2,514 crore as compared to Rs. 2,162 crore in the corresponding quarter last year. Inclement weather in most parts of the country has impacted overall growth of the cooling products, albeit some recovery in the month of June 2023

In Electro-Mechanical Projects and Services revenue for the quarter was higher by 49%, at Rs 679 crore as compared to Rs 455 crore in the corresponding quarter last year. Delayed certification and collections primarily in overseas projects resulted in a negative Result of Rs 52 crore for the quarter ended June 23. Carry forward order book of the Segment was significantly higher at Rs 8,193 crore as compared to Rs 5,362 crore in the corresponding quarter last year.

The Engineering Products and Services segment revenue and Result for the quarter were higher at Rs 142 crore and Rs 54 crore as compared to Rs 124 crore and Rs 51 crore, respectively in the corresponding quarter last year.

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.

The scrip declined 3.10% to Rs 803 on the BSE.