India's Voltas reports two-fold rise in profit on higher demand for air conditioners
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 12 2024
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Source: Reuters
Voltas Profit Surge: India's Voltas reported a more than two-fold increase in its first-quarter profit, reaching 3.34 billion rupees, driven by heightened demand for air conditioners and coolers amid extreme heatwaves.
Industry Performance: The company's revenue rose 47% to 49.04 billion rupees, reflecting strong growth in cooling products, while competitors like Blue Star and Crompton Greaves also exceeded quarterly profit estimates due to increased demand for their respective cooling appliances.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
