Cooling products maker Voltas Ltd on Thursday (October 19) reported a net profit of ₹35.6 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, Voltas posted a net loss of ₹6 crore, the company said in a regulatory filing. CNBC-TV18 Poll had predicted a profit of ₹98 crore for the quarter under review.

In the quarter, total revenue stood at ₹2292.8 crore during the period under review, up 29.7% against ₹1,768.4 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of ₹2,107 crore for the quarter under review.

At the operating level, EBITDA jumped 30.2 percent to ₹70.4 crore in the second quarter of this fiscal over ₹101 crore in the corresponding period in the previous fiscal. CNBC-TV18 Poll had predicted an EBITDA of ₹126 crore for the quarter under review.

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EBITDA margin stood at 3.1% in the reporting quarter as compared to 5.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 Poll had predicted a margin of 6% for the quarter under review.

The company's board has given the green light to a plan for generating up to ₹500 crore via the issuance of rated, listed, unsecured, redeemable non-convertible debentures (NCDs) through private placement.

These funds are earmarked for supporting capital expenditures associated with the construction of new manufacturing facilities in Chennai and Waghodia, Gujarat, the company added.

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Profil before tax (PBT) was at ₹85 crore as compared to ₹13 crore in the corresponding quarter last year. Earnings per Share (Face value per share of Re. 1) (not annualised) as of September 30, 2023, was ₹1.05 compared to a negative of ₹0.22 last year.

The results came after the close of the market hours. Shares of Voltas Ltd ended at ₹839.30, up by ₹5.70, or 0.68 percent on the BSE.

First Published:Oct 19, 2023 10:52 PM IST