Havells India slips 6% on weak operational performance in December quarter

In Q3, standalone ebitda margin contracted 390 bps to 12.1 per cent due to elevated commodity costs and partial transition in pricing especially in consumer durables.

Shares of Havells India dipped 6 per cent to Rs 1,232.15 on the BSE in Friday’s intra-day trade after the company reported weak operational performance in the December quarter (Q3FY22).

The company’s standalone earnings before interest, taxes, depreciation, and amortization (ebitda) margin contracted 390 bps to 12.1 per cent in the reporting qaurter due to elevated commodity costs and partial transition in pricing especially in consumer durables. Its net profit declined 12 per cent to Rs 306 crores from Rs 349 crores in the same quarter a year ago. 

Net revenue during the quarter grew 15 per cent