Havells Up 10% To New 52-Week High On Reporting 75% Jump In Q3 Profit

Shares of Havells India Ltd rose as much as 9.98% on Thursday to hit a new 52-week high of Rs 1,122 on NSE. The surge comes after the electrical equipment company reported a 74.52% jump in the consolidated net profit of Rs 350.14 crore for the December-ended quarter, on Wednesday.

In comparison, it posted a consolidated net profit of Rs 200.62 crore in the same period a year ago.

Its revenue from operations was up 39.67% to Rs 3,175.20 crore during the period under review as against Rs 2,273.29 crore in the corresponding period last fiscal, the company said.

Havells' total expenses were at Rs 2,744.72 crore as against Rs 2,064.24 crore, up 32.96%.

Revenue from Switchgears segment was up 32.10% to Rs 437.12 crore as against Rs 330.90 crore in the year-ago period of October-December.

Revenue from its cables segment was up 27.11% to Rs 905.17 crore compared to Rs 712.08 crore a year ago.

Havells' revenue from lighting and fixtures in the October-December quarter was up 29.80 per cent to Rs 362.64 crore, against Rs 279.38 crore in the corresponding quarter of the previous year.

Electrical consumer durables (ECD) revenue was up 46.10% to Rs 783.06 crore as against Rs 535.94 crore in the year-ago period. Revenue from Lloyd Consumer, a company which Havells acquired in 2017, was up 53.32% to Rs 511.56 crore during October-December quarter as against Rs 300.43 crore in the year-ago period.

Havells' revenue from others was at Rs 175.65 crore, up 53.32% as against Rs 114.56 crore.

Meanwhile, in a separate filing, Havells said that its board has declared an interim dividend of 300 per cent, which is Rs 3 per equity share of Re. 1 each.

The board has also appointed Namrata Kaul as an independent director of the company.