Shares of Voltas Ltd hit a 52-week high of Rs 1,101 on 31 January after the company reported growth in its quarterly report for October-December.

In its quarterly report, the company reported a decline in net loss to Rs 27.6 crore during the quarter from Rs 110 crore net loss reported in the same quarter last year.

Moreover, the company’s revenue from operations stood at Rs 2,625.7 crore, marking a 30.9% year-on-year increase from Rs 2,005 crore reported in the same quarter of the previous fiscal year.

The EBITDA (earnings before interest, tax, depreciation, and amortisation) declined by 63% to Rs 28.3 crore from Rs 76.4 crore reported in the corresponding period in the previous fiscal. The EBITDA margins contracted to 1.1% during the quarter from 3.8% reported in Q3FY23.

The company’s key cooling product segment, which accounts for over half of its revenue and manufactures appliances like purifiers, has reported a significant growth of 21%.

During the same quarter last year, the company had set aside Rs 137 crore for cancellation of contracts and encashment of a bank guarantee, which led to a net loss of Rs 110 crore during the quarter.

In a period of six months, the shares of the company have given a return of over 36% against the benchmark Nifty50, which has given returns of 9.5% in this duration.

At 3:30 pm, the shares of Voltas closed 7.09% higher at Rs 1,089 on NSE.