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Voltas profits plunge 58% as unseasonal rains hit AC sales
Voltas just had a rough quarter—profits dropped 58% to ₹140.6 crore, mainly because unseasonal rains and an early monsoon meant fewer people needed air conditioners.
Last year's heatwave made for tough comparisons, and this time, revenue also fell 20% to ₹3,938.6 crore.
Margins shrank too, and the numbers missed what analysts were hoping for.
Cooling products saw revenue slide
Their main cooling products segment saw revenue slide from ₹3,802 crore to ₹2,868 crore. Earnings in that area took a big dip as well.
Still, Voltas held onto its top spot in fixed-speed and inverter ACs thanks to its strong brand and wide reach.
CEO Pradeep Bakshi called this quarter "a one-off disruption" and sounded upbeat about bouncing back long-term with new tech and expanding channels.