Havells India declined 4.04% to Rs 591.95 after the company reported muted Q3 2019 earnings after market hours yesterday, 21 January 2020.
Havells India reported a 2.8% rise in net profit to Rs 201.22 crore in Q3 December 2019 as against Rs 195.72 crore in Q3 December 2018.Net sales tumbled 10% to Rs 2273.29 crore in Q3 December 2019 over Q3 December 2018. Consolidated Profit before Tax (PBT) stood declined 20% to Rs 233.79 crore in Q3 December 2019 over Q3 December 2018.
Company's standalone EBITDA stood at 267 crore in Q3 December 2019 as against Rs 291 crore in Q3 December 2018, reporting a decline of 8%. EBITDA margin grew to 11.8% in Q3 2019 from 11.6% in Q3 2018.
The company reported that deterioration in economic macros, sectoral liquidity challenges and slowdown in infrastructure segment disproportionately impacted demand for industrial cables, professional lighting and industrial switchgear. This led to muted net sales for Q3 2019 as against Q3 2018. The general consumer sentiment was also weak though the company managed to remain stable in consumer categories
Havells India is a leading fast moving electrical goods company with presence across India. Its product range includes industrial & domestic circuit protection switchgear, cables & wires, motors, fans and power capacitors
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
