Havells India falls 6% post September-quarter earnings

In last three months, the stock outperformed the market and gained 17% against 1.5% rise in Sensex till Monday

Havells India dipped 6% to Rs 512 on the BSE in intra-day trade in otherwise firm market after the company reported single digit growth in standalone net revenue (excluding Lloyd) at Rs 1,508 crore in September quarter (Q2FY18).  It had net revenue of Rs 1,452 crore in Q2FY17.

Net profit of the company during the quarter under review grew 9% to Rs 159 crore against Rs 146 crore in the corresponding quarter of previous fiscal.

“The transition to Goods and Service Tax (GST) regime which led to the decline in primary off take starting May 2017, continued its