Havells India Ltd.'s net profit for the September-ended quarter increased, surpassing analyst estimates.
Net profit rose to Rs 171 crore from Rs 145.7 crore in the corresponding quarter last year, the company said in a stock exchange filing. This was higher than the Bloomberg consensus estimate of Rs 143 crore.
Revenue of the electrical products manufacturer rose 23.6 percent to Rs 1,777.4 crore during the year-ago period, missing the consensus estimate of analyst estimates tracked by Bloomberg.
After the bad first quarter, where the de-stocking that happened, we had a complete cost control in the second quarter. Going forward, we should be coming back to our normal levels.Anil Rai Gupta, Chairman And Managing Director At Havells India Ltd.
The company's earnings before interest, tax, depreciation and amortisation rose 26.3 percent to Rs 256.9 crore on a year-on-year basis while the EBITDA margin expanded 40 basis points to 14.5 percent in the same period.
Gupta said the demand has been sluggish in the construction industry for the last few quarters. “We do expect that these businesses will have a muted growth in the coming quarters as well,” he said.
Shares of the electrical equipment maker rose to a lifetime high in intraday trading, rising as much as 3.15 percent to Rs 564.6 on the BSE.
Watch the full interview with Anil Rai Gupta here.
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