Voltas Has 24.1 Per cent Share in the Room Air Conditioners Market

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  • The company has released financial data for the quarter ended 30 June 2019
  • Company said its turnover grew by 24 per cent and profit before exceptional items and tax by 14 per cent

The Board of Directors of Voltas Limited, the global air conditioning and engineering services provider of the Tata Group, has announced the consolidated financial results (including the Consolidated Segment Report) for the quarter ended 30 June 2019.

Consolidated gross sales / income from operations for the quarter ended 30 June 2019 was higher by 24 per cent, at Rs 2,647 crores as compared to Rs 2,134 crores in the corresponding quarter last year, profit before exceptional items and tax was higher by 14 per cent, at Rs 301 crores as compared to Rs 263 crores last year.

Number one position in room air conditioners business

Voltas said that continues to be the leader in the room air conditioner business with market share of 24.1 per cent for the quarter ended 30 June 2019 (25.3 per cent for June 2019) at multi-brand Outlets. With growth in sales volumes exceeding the overall industry growth, the segment’s revenue increased by 47 per cent and was Rs 1,749 crores as compared to Rs 1,191 crores in the corresponding quarter last year.

Voltas’ official statement read.”Commercial Refrigeration products and air coolers also witnessed increased traction and healthy growth. Segment Result was higher by 54 per cent at Rs 230 crores as compared to Rs. 149 crores in the corresponding quarter last year.”

It continued, “Profit before tax was Rs 258 crores as compared to Rs 263 crores last year after considering exceptional item of Rs 43 crores in the current quarter. Profit after tax was Rs 166 crores as compared to Rs 187 crores last year. Earnings per Share (Face Value per share of Re. 1) (not annualized) as at 30 June 2019 was Rs 4.99 as compared to Rs. 5.56 last year.”

The company is now focusing on SKU launches in the Voltas-Beko JV (refrigerators, washing machines, etc) in the upcoming festive season. Voltas and Beko had entered into a collaboration last year. Voltas has been retailing Voltas Beko range of products from all its retail stores since then.

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