Shares of air conditioning and engineering services provider Voltas Ltd on Wednesday tanked over 9 per cent after the company reported a 22.75 per cent decline in consolidated net profit in the fourth quarter ended March 31, 2024.
The stock plunged 9.13 per cent to ₹1,261.65 on the BSE.
At the NSE, it dropped 9.15 per cent to ₹1,262 a piece.
Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to ₹110.64 crore in the March quarter, impacted by higher expenses.
The company had posted a consolidated net profit of ₹143.23 crore in the same period of the previous fiscal, Voltas said in a regulatory filing.
- Also read: Voltas AC sales grew 35% in FY24
Consolidated revenue from operations during the quarter under review stood at ₹4,202.88 crore, as against ₹2,956.8 crore in the year-ago period, it added.
Total expenses in the fourth quarter were higher at ₹4,044.90 crore, compared to ₹2,761.45 crore in the corresponding period a year ago.