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Voltas shares soar over 10% on Q4 earnings boost

LiveMint logoLiveMint 24-05-2017 PTI

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

The stock surged 10.12% to touch its one-year high of Rs451.25 on BSE.

At NSE, shares of the company advanced by 9.99% to Rs450.80—its 52-week high.

Tata Group firm Voltas on Tuesday reported 22.06% increase in consolidated net profit at Rs 200.47 crore for the fourth quarter ended 31 March.

The company had posted a net profit of Rs164.23 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% to Rs2,096.86 crore, as against Rs1,902.62 crore of the corresponding quarter a year ago.

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

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