Voltas web revenue falls 23.5% to Rs 182.7 crore

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Voltas posted a pointy 23% year-on-year decline in web revenue to `183 crore for the fourth quarter ended March 31, 2022 resulting from muted gross sales of cooling merchandise, impacted by prolonged winter and third wave of Covid-19 throughout the first two months of the quarter.

Nonetheless, the beginning of the warmth wave from March onwards led to some restoration within the gross sales momentum. Consequently, income from operations throughout the quarter remained flat at Rs 2,666.58 crore.

The section beneath unitary cooling merchandise for consolation and business use reported greater income of Rs 1,818 crore versus Rs 1,655 crore within the corresponding quarter final 12 months.

The rise in commodity costs/enter prices together with a time lag in passing on the associated fee enhance successfully to the gross sales worth chain impacted margins. Consequently, section Ebitda (earnings earlier than curiosity, tax, depreciation and amortisation) declined 26.4% y-o-y to Rs 192 crore.

Nonetheless, the corporate mentioned that it held on to its market chief place in air conditioners with a market share of 25.4% year-to-date January 2022.

Income of electro-mechanical initiatives and providers declined to Rs 692 crore versus Rs 875 crore in Q4FY21 owing to decrease carry ahead order e book. Nonetheless, a wholesome undertaking combine and deal with the certifications and collections resulted in enhancing the general margin for the section. The section reported a flat y-o-y progress in Ebitda to Rs 48 crore. Carry ahead order e book of the section was at Rs 5,360 crore, a y-o-y decline of over 17%.

Engineering services and products reported greater income and Ebitda at Rs. 124 crore and Rs 41 crore, respectively resulting from revival in capital tools demand and better after gross sales providers income.

For the complete 12 months ended March 31, 2022, consolidated web revenue for Voltas declined 4.3% to Rs 506 crore in comparison with final 12 months. The income from operations elevated 5% to Rs 7,934.45 crore for the 12 months versus FY21.

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Lexie Ayers
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