Voltas Q4 Results: 42% Income Growth, Net Profit Down 23% YoY

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00


Voltas reports a staggering 42% increase in Consolidated Total Income, reaching ₹4,257 Cr in Q4 FY24. Despite a slight dip in Profit Before Tax (PBT) to ₹174 Cr, the Unitary Cooling Products segment shines with a 35% YoY growth in AC volumes. Domestic Projects surge by 38%, offsetting challenges in International Projects. With a record 2 million AC unit sales in FY24 and plans to manufacture AC compressors domestically, Voltas solidifies its position in India's cooling market.

5 Key Financial Highlights

In its fourth quarter and FY24 result report, one of India’s top contenders in the cooling appliance products sector, Voltas, has attributed its Total Income growth to a boost in its product mix in the year. On the back of sustained operational efficiency and a keen eye on high-quality product manufacturing, India’s premier AC maker has these 5 key financial results to share for Q4: 

  • The Consolidated Total Income for Q4 FY24 was higher by 42% at ₹4,257 Cr as compared to ₹3,003 Cr in the corresponding quarter of the last fiscal year
  • Profit Before Tax (PBT) was at ₹174 Cr as compared to ₹214 Cr in the corresponding quarter of the last fiscal year
  • Net Profit (after tax) was at ₹111 Cr as compared to ₹143 Cr in the corresponding quarter of the last fiscal year
  • Basic and Diluted EPS stood at ₹3.52 in Q4 FY24 compared to ₹4.35 in Q4 FY23
  • Income from Operations was at ₹4,192 Cr in Q4 FY24 relative to ₹2,936 Cr in Q4 FY23, with unitary cooling products contributing to most of this (₹2,955 for Q4 FY24)

Explore: Voltas Share Price

Voltas Q4 Results - Chilling with Growth in Segments

Voltas couldn’t have picked a better time to come out with its annual and Q4 FY24 results - the summer when everyone needs a superior AC! Although the Company now manufactures premium appliances like refrigerators, washing machines, dishwashers, and other cooling products besides ACs, the Q4 results show positive growth in business segments, resulting in an overall quarterly show of strength. Here are some insights: 

  • Unitary Cooling Products: The Unitary Cooling Products business segment continued to outperform the market and maintained its growth trajectory. While the overall volumes went up by 27%, the YoY growth for Air-conditioners was higher at 35%. 
  • Voltas continues its stint as a market leader both in Split and Window Air-conditioners with a YTD market share of 18.7% in Q4 FY24. 
  • The Overall Segment Revenue rose by 44% to ₹2,955 Cr compared to ₹2,049 Cr in the same quarter of the last fiscal year due to a boost in product mix. 
  • The Segment Result of Q4 witnessed a growth of 31% over the same quarter of the previous fiscal year. 
  • In the Sl Electro-Mechanical Projects and Services, comprising both Domestic and International Projects businesses, the Domestic Projects business with a presence in MEP, Water, Electrical & Solar has grown by 38% YoY as a result of a robust carry forward order book position.  
  • The International Projects business continues to face stormy weather, due to prolonged timelines and delays in other areas. 
  • Engineering Products and Services continued to show improved performance driven by a strong order backlog and disciplined execution efforts. 

Additional Read: Quarterly Results

Key Financial Metrics - Consolidated Q4 (FY 2023-24) Financial Results of Voltas (in ₹ Crore)


Q4 FY24

Q4 FY23

Total Income



Total Expenses



Profit Before Tax 



Profit After Tax/Net Profit



Basic and Diluted EPS ₹



Voltas - Blowing Strong on the Wind of Success

Riding high with Q4 FY24 results in profitable ranges, Voltas has always delivered on its promises of customer care and high-quality standards. With a reliable reputation for the manufacture of superior and durable home appliances, the Company has seen a fruitful fourth quarter for FY24 and an even better fiscal year with a record volume of sales in ACs hitting milestones never reached before in the Company’s history. Despite International Projects facing lows due to system delays, the domestic business shows an uptick for the Company in the prospective months to come.

Additional ReadDr. Reddy’s Laboratories Q4 Results


Voltas’ quarterly results are anything but muted for a Company that may have witnessed some rough patches given the competition in the AC and cooling products market in India. With new Chinese products entering all the segments of appliances, Voltas finds itself with a place in the sun as it has pegged a record 2 million AC unit sales in FY2023-24. This is a record-breaking sales figure for a relatively humble AC brand in India. As the Company has expanded and ventured into refrigerators and washing machines in its premium offerings, it is taking operational efficiency very seriously and has ventured into manufacturing dishwashers as well. At the operating level, although the Q4 EBITDA has fallen, segmental businesses like the unitary cooling segment revenue has increased.

Additional ReadUnited Breweries Q4 Results

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Frequently Asked Questions

How is Voltas placed as a manufacturer of ACs in the future?

Answer Field

As Voltas’ Q4 results portray, it is a market leader in split and window ACs in India. 

With views to expand its operations, it has an optimistic future in the Indian AC market.

What were some of the main financial and performance indicators in Voltas Q4 results?

Answer Field

Some of the key financial indicators in Voltas’ Q4 results were the rise in Total Income in Q4 (compared to the same quarter of the last fiscal year) and the increase in sales volumes for unitary cooling products.

Were the Q4 results of Voltas good?

Answer Field

By and large, the Q4 results of Voltas were quite satisfactory as the unitary cooling business segment revenue rose and has maintained Voltas’ position as a market leader in the AC segment.

No Result Found

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users


4.3+ App Rating


4 Languages


₹4300 Cr MTF Book