Voltas reported a 53% year-on-year increase in consolidated net profit

Voltas reported a 53% year-on-year increase in consolidated net profit for the June quarter, compared with ₹140 crore in the corresponding quarter last year. The Tata Group company’s revenue from operations rose 19% during the quarter. EBITDA increased 48.7% year-on-year. The EBITDA margin also improved to 5.7% in the year-ago period. In a separate development, Voltas announced a partnership with Atomberg to manufacture room air-conditioner compressors and related components in India, according to an exchange filing. The proposed joint venture will focus on the development, manufacturing and supply of air-conditioner compressors, with an emphasis on energy efficiency, operational reliability, cost competitiveness and greater localization. The partnership will combine Voltas’ understanding of the Indian room air-conditioner market, product expertise, manufacturing ecosystem, supply-chain capabilities and scale with Atomberg Innovation’s proprietary compressor technology, engineering and product-design capabilities, as well as its track record in developing energy-efficient motors and control systems.