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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Should l Buy ?
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.
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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.
