Havells stock trades flat after firm report weak Q3 numbers; misses Street estimates

Havells Share Price: Havells was trading flat in morning deals on BSE on Wednesday (January 24, 2024) after the company delivered weak December-quarter results, missing Zee Business Research estimates.

The stock of Havells was trading flat at Rs 1313.00 at 10:31 am on Wednesday.

Havells Q3 results

Havells delivered weak results for the December quarter, missing research estimates.

The company's consolidated profit after tax (PAT) for the December quarter jumped by just 1 per cent to Rs 288 crore from Rs 284 crore Year-on-Year (YoY).

It was was below than research estimates of Rs 321 crore.

Its revenue from operations also jumped to Rs 4401 crore from Rs 4120 crore YoY, but they were also below analysts' estimates of Rs 4546 crore.

EBIDTA jumped to Rs 433 crore from Rs 424 crore YoY, lesser than the Street estimates of Rs 470 crore.

The company's margins dopped to 9.8 per cent in the December quarter from 10.3 per cent in the same quarter last year.

Research had given estimates of 10.3 per cent for the same.

Gross margins, meanwhile were at 33.3 per cent against 33 per cent in the same quarter last year.  

What Havells said in commentary

• Consumer demand continues to be subdued, though recent trends suggest some recovery. 
• Infrastructure-led demand remains robust supporting Cables & Professional Lighting. 
• Advertising and sales promotion spends higher amid the festive season.