New Delhi: Shares of air-conditioning maker and engineering services provider Voltas Ltd on Monday tumbled nearly 9 per cent after the firm reported a decline of 58 per cent in consolidated net profit for the June quarter.
The stock tanked 7.78 per cent to Rs 1,202.20 on the BSE.
At the NSE, it dropped 8.65 per cent to Rs 1,192.
Voltas Ltd on Friday reported a decline of 58 per cent in its consolidated net profit to Rs 140.61 crore for the June quarter, as unseasonal rains and early arrival of monsoon impacted the cooling business.
It had posted a consolidated net profit of Rs 335 crore in the April-June period a year ago, according to a regulatory filing from the Tata Group firm.
The company's revenue dropped by 20.22 per cent to Rs 3,912.29 crore in the June quarter of FY26. In the year-ago period, the same was Rs 4,903.91 crore.
"The quarter was marked by unseasonal and unpredictable weather conditions. The onset of summer was delayed, temperatures remained relatively mild, and the season concluded abruptly due to the early monsoon.
"This resulted in a sharp decline in demand for cooling products, particularly in the case of air conditioners," Voltas said in its earnings statement.
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