Havells India rose 0.28% to Rs 302.70 at 14:53 IST on BSE after net profit rose 4% to Rs 120.80 crore on 8% growth in net revenue to Rs 1344.50 crore in Q3 December 2015 over Q3 December 2014.
The result was announced during market hours today, 27 January 2016.Meanwhile, the S&P BSE Sensex was up 46.69 points or 0.19% at 24,532.64.
On BSE, so far 2.89 lakh shares were traded in the counter as against average daily volume of 2.10 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 0.62% at the day's high of Rs 303.75 so far during the day. The stock lost as much as 3.49% at the day's low of Rs 291.30 so far during the day. The stock had hit a 52-week high of Rs 321.90 on 1 January 2016. The stock had hit a 52-week low of Rs 235.60 on 9 November 2015. The stock had outperformed the market over the past one month till 25 January 2016, sliding 1% compared with Sensex's 5.24% fall. The scrip had also outperformed the market in past one quarter, surging 17.38% as against Sensex's 10.87% fall.
The large-cap company has equity capital of Rs 62.46 crore. Face value per share is Rs 1.
Havells India's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 2% to Rs 181.50 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin declined to 13.5% in Q3 December 2015 from 14.3% in Q3 December 2014.
During the quarter, the company witnessed decline in exports in key categories i.e. Sylvania and in Africa. Sharp currency devaluation in Africa impacted growth of exports in these countries, Havells India said. Efforts are in place to become more competitive and to look out for newer geographies as alternative markets, Havells added.
Havells India at its board of directors meeting held today, 27 January 2016, said it has completed the sale of shares by its wholly owned subsidiary Havells Holdings with respect to 80% of its stake in Havells Malta (excluding its subsidiaries based in United States, Brazil, Chile and Thailand) to INESA UK Limited, an affiliate of Shanghai Feilo Acoustics Co. Limited. The company also completed the sale of shares with respect to 80% of its stake in its wholly owned subsidiary Havells Exim to Shanghai Feilo Investment Co. Ltd, an affiliate of Shanghai Feilo Acoustics Co. Limited. These transactions were completed subsequent to approval from Havells India's shareholders on 18 January 2016 by way of a special resolution.
Havells India is a leading fast moving electrical goods (FMEG) company with a strong global footprint.
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