Voltas Q4 net profit dips 19 per cent, declares dividend of Rs 5.50 per share

Mumbai : Tata Group AC manufacturer Voltas Ltd on Tuesday reported a 19 per cent decline in consolidated net profit, at Rs 116 crore, for the January-March quarter of 2023-24, compared to Rs 144 crore in the same period of the previous year.

The Mumbai-based company’s consolidated revenue from operations rose 42 per cent to Rs 4,203 crore in Q4FY24, as compared to Rs 2,957 crore in Q4FY23.

"The directors have recommended dividend of Rs 5.50 per share on face value of Re 1 per share (550 per cent) for the year 2023-24 which shall be paid/despatched on or after fifth day from conclusion of ensuing 70th Annual General Meeting, subject to approval of shareholders of the company," Voltas said in a BSE filing.

The company said its consolidated total income for the year ended March 31, 2024, was higher by 32 per cent at Rs.12,734 crore as compared to Rs.9,667 crore last year. The net profit was 82 per cent higher at Rs 248 crore as compared to Rs 136 crore last year.