Havells India has rallied 6.3% to Rs 742 after reporting a slightly better-than-expected 20% year-on-year (yoy) growth in net profit at Rs 110 crore for the quarter ended March 31, 2013 (Q4).
The fast moving electrical goods company had profit of Rs 91.52 crore in a year ago quarter. Analysts on an average had expected net profit of Rs 106 crore for the quarter.
Net sales grew 11.6% at Rs 1,162 crore on yoy basis, Havells India said in a statement.
Meanwhile, the board has recommended a dividend of 150% or Rs 7.50 per equity share of Rs 5/- each for the financial year 2012-13.
The stock opened at Rs 698 and hit a record high of Rs 751 on BSE before the announcement of Q4 results. A combined 1.58 million shares have already changed hands on the counter till 1439 hours against an average around 105,000 shares that were traded daily in past two weeks on BSE and NSE.
The fast moving electrical goods company had profit of Rs 91.52 crore in a year ago quarter. Analysts on an average had expected net profit of Rs 106 crore for the quarter.
Net sales grew 11.6% at Rs 1,162 crore on yoy basis, Havells India said in a statement.
Meanwhile, the board has recommended a dividend of 150% or Rs 7.50 per equity share of Rs 5/- each for the financial year 2012-13.
The stock opened at Rs 698 and hit a record high of Rs 751 on BSE before the announcement of Q4 results. A combined 1.58 million shares have already changed hands on the counter till 1439 hours against an average around 105,000 shares that were traded daily in past two weeks on BSE and NSE.
