Why did Tata Group's Voltas shares crash 13% today?

Tata Group's home appliances company Voltas' shares nosedived 13% on Thursday following weaker-than-expected earnings performance in Q3. Voltas' net profit of ₹130.8 crore was below a CNBC-TV18 poll of ₹155 crore. The operational performance also missed expectations as Q3 EBITDA margin of 6.4% came below the estimated 7.1%. Reduced margins in Unitary Cooling Products also hurt investor sentiment.