Havells reports in-line performance for Q3, improvement in Lloyds' business

Net profit at Rs 1.94 bn helped by one-time gain of Rs 210 mn came significantly higher than expectations of Rs 1.69 bn

Havells reported a steady and in-line performance for the quarter ended December 2017 (Q3). Although revenue for its standalone business at Rs 19.66 billion came marginally lower than Rs 19.96 billion as indicated by Bloomberg consensus estimates, earnings before interest, tax depreciation and amortisation (Ebitda or operating profit) at Rs 2.62 billion was a tad ahead of analysts’ estimates of Rs  2.60 billion. 

Net profit at Rs 1.94 billion helped by one-time gain of Rs 210 million came significantly higher than expectations of Rs 1.69 billion. However, even after excluding the one-off gain, profits were ahead of estimates. 

Revenue growth