Havells Q3 Results: Profit Rises 1.6%, Margin Contracts Amid Subdued Demand
Consumer demand continues to be subdued and advertising and sales promotion spends were higher amid festive season which put pressure on margin, it said.
Consumer electrical goods maker Havells India Ltd.'s third-quarter profit and revenue rose amid muted demand.
Net profit increased 1.6% to Rs 287.9 crore in the quarter ended December, it said in an exchange filing on Tuesday.
Margin contracted to 9.8% due to higher ad spends.
Havells Q3 FY24 Highlights (YoY)
Revenue up 7% at Rs 4,413.9 vs Rs 4,126 crore.
Ebitda up 2.1%% at Rs 432.7 vs Rs 423.6 crore.
Margin at 9.8% vs 10.3%.
Net profit up 1.6% at Rs 287.9 vs Rs 284 crore.
Consumer demand continues to be subdued and advertising and sales promotion spends were higher amid festive season which put pressure on margin, it said. Cable and wire continued to deliver healthy growth and benefited from infrastructure demand.
The board has approved a dividend of Rs 3 per share.
Shares of Havells closed 4.19% lower as against a 1.5% fall in the Nifty on Tuesday.