Voltas Limited (NSE: VOLTAS) is an Indian engineering company that specializes in air conditioning and refrigeration. The company has reported its financial results for Q2 FY23, revenue stood at ₹1,768.36 crore, which represents an increase of 4.7% compared to the same period in the previous year. The Revenue growth was driven by the improvement in all segments across the board.
The company’s Unitary Cooling segment reported a revenue of ₹1047.71 crore, an increase of 4% year on year. The Electro-Mechanical Product & Services segment reported a revenue of ₹554.04 crore, an increase of 3.3% and the Engineering Product & Services segment posted a growth of 9.5% to 137.37 crore.
Net loss for the quarter was ₹6.04 crore for this quarter. As per the management, “Profit before and after tax was impacted during the current quarter due to provision made on an Overseas project”. Earnings per share (EPS) for the quarter was -₹0.22 for this quarter. In addition, the company’s net cash balance as of September 30, 2022 was ₹529.06 crore. Overall, the company performed well in the second quarter of the fiscal year 2023.