Voltas shares fall 9% after Q1 profit falls 58%

New Delhi New Delhi: Shares of air conditioning maker and engineering services provider Voltas Ltd on Monday dropped nearly 9 per cent after the company reported a 58 per cent drop in consolidated net profit for the June quarter. The stock fell 7.78 per cent to Rs 1,202.20 on the BSE.

On the NSE, it fell 8.65 per cent to Rs 1,192. Voltas Ltd on Friday reported a 58 per cent drop in its consolidated net profit at Rs 140.61 crore for the June quarter. The cooling business was hit due to unseasonal rains and early arrival of monsoon.