Mumbai, July 22 -- Profit before tax stood at Rs 474.56 crore in the first quarter of FY26, down 14.13% year-on-year from Rs 552.67 crore reported in the same quarter of the previous fiscal year.

EBITDA for the June 2025 quarter declined 9.8% to Rs 520 crore, compared to Rs 576 crore reported in Q1 FY25. The EBITDA margin also narrowed to 9.6%, down from 9.9% in the corresponding quarter of the previous year.

The company attributed the decline in profitability to a tepid summer season this year, in stark contrast to a strong cooling season last year, which led to a significant drop in demand for cooling products. While consumer demand remained subdued, the industrial and infrastructure segments continued to maintain their growth momentu...