Havells India reported a 43% year-on-year rise in first-quarter profit at Rs 411 crore, compared to Rs 287 crore in the same period last year. This profit figure was lower than CNBC-TV18’s estimate of ₹445 crore, leading to a 2% drop in shares on Thursday.
The Noida-based company saw a 21% year-on-year increase in revenue, reaching ₹5,798 crore compared to ₹4,823 crore in the previous year. However, the company’s EBITDA or operating profit fell 7.8% to ₹576 crore in the June quarter, and EBITDA margins dropped by 90 basis points to 9.9%.
Domestic growth in switchgears was 12% year-on-year, though some export orders were shifted to the next quarter. The company reported healthy growth in power cables despite capacity constraints, but wires revenue was impacted by channel destocking due to a sharp decline in commodity prices in June 2024.
