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Shares of Voltas Ltd fell by nearly 3 per cent on Thursday morning trade after the air conditioning maker reported a decline of 21.6 per cent in its consolidated net profit in the March 2023 quarter.
The stock fell by 2.85 per cent to ₹830.60 on the BSE.
At the NSE, it declined 2.82 per cent to ₹830.50.
Voltas Ltd, on Wednesday, reported a decline of 21.6 per cent in its consolidated net profit at ₹143.23 crore in the March 2023 quarter, due to provisions made on delayed collection in the international project business.
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The Tata group firm had posted a consolidated net profit of ₹182.71 crore in the year-earlier period, the company said in a regulatory filing.
Revenue from operations of Voltas was up 11.5 per cent to ₹2,936.76 crore during the period under review.
"Profit before and after taxes were impacted during the current quarter due to provisions made on delayed collection in the international project business," Voltas said in its earnings statement.
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