Mumbai, Aug 16: Air-conditioner makers have logged a high double-digit growth in revenue and several of them had over two-fold jump in profits during April-June quarter amid increased demand due to the blistering summer.Companies such as Voltas, Blue Star, Whirlpool of India, Johnson Hitachi, and Havells which owns Llyods brand have reported a high growth trajectory in their top-line and bottom line, led by record sales in the April-June period.
Tata group firm Voltas, a leading player in the room AC segment, reported over two-fold jump in consolidated net profit at Rs 335 crore and its revenue from operation went up 46.46 per cent to Rs 4,921 crore.
Voltas also reported achieving the “milestone” of one million units of AC sales in the first quarter of FY25 and its total income crossed the Rs 5,000 crore-mark during the period.
In the first quarter of this financial year, Voltas’ revenue from “unitary cooling products for comfort and commercial use” that come under its room AC business vertical was up 51.24 per cent to Rs 3,802.17 crore. Its overall volume grew by 67 per cent in the AC segment in the April-June period.
“The unitary cooling products business continued to outperform the market and maintained its growth momentum,” it said, adding, “Voltas continues to be a market leader both in split and window air-conditioners with an exit market share of 21.2 per cent as on June 2024.
Blue Star also reported a two-fold increase in consolidated net profit at Rs 168.76 crore, while its revenue from operations rose 28.72 per cent to Rs 2,865.37 crore in the June quarter.