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  Business   Companies  24 May 2017  Voltas shares rises after company reports net profit

Voltas shares rises after company reports net profit

PTI
Published : May 24, 2017, 1:08 pm IST
Updated : May 24, 2017, 1:08 pm IST

the company reported a 22 per cent increase in consolidated net profit for the fourth quarter.

Representational Image
 Representational Image

New Delhi: Shares of Voltas today soared over 10 per cent to one-year high level after the company reported a 22 per cent increase in consolidated net profit for the fourth quarter ended March 31.

The stock surged 10.12 per cent to touch its one-year high of Rs 451.25 on BSE. At NSE, shares of the company advanced by 9.99 per cent to Rs 450.80 -- its 52-week high. Tata Group firm Voltas yesterday reported 22.06 per cent increase in consolidated net profit at Rs 200.47 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 164.23 crore in the January-March quarter a year ago, Voltas said in a BSE filing. Voltas' total income during the period under review was up 10.20 per cent to Rs 2,096.86 crore, as against Rs 1,902.62 crore of the corresponding quarter a year ago.

Meanwhile, Voltas and Turkey's Arcelik have decided to set up a USD 100 million joint venture for making a foray into the country's consumer durables market.

Tags: voltas, voltas net profit, voltas shares
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