Havells India Q1 results: Net profit jumps 18.5% to Rs 287 crore, misses Street estimates

Consumer electrical goods maker Havells India on Thursday reported a standalone net profit of Rs 287.4 crore for the April-June period, marking an increase of 18.5 per cent compared with the corresponding period a year ago but missing analysts' estimates. Havells India shares gained by as much as Rs 44.2 or 3.2 per cent to touch a 52-week high of Rs 1,408 apiece on BSE after the earnings announcement. 

The company's revenue grew 14 per cent on a year-on-year basis to Rs 4,823.7 crore, according to a regulatory filing. 

According to Zee Business research, Havells India was estimated to report a quarterly standalone net profit of Rs 349 crore and revenue of Rs 4,600 crore.   

Revenue from switch-gears increased 4.7 per cent to Rs 540.7 crore, and that from cables expanded 24.5 per cent to Rs 1,485.2 crore. Revenue from electrical consumer durables increased 4.6 per cent to Rs 877 crore. The company reported a decline of 1.1 per cent in revenue from its lighting and fixtures unit to Rs 367 crore. 

Havells India shares finished the June quarter with a gain of 7.9 per cent, underperforming a 10.5 rise in the benchmark Nifty index.

As of July 18, Havells India shares grew 5.8 per cent in value in the past one year while the Nifty rallied 21.5 per cent. 

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