Havells India Q1 disappoints, net up 18% to Rs 94.7 cr

Electrical equipment manufacturer Havells India disappointed the street on all parameters with the first quarter standalone net profit rising lower-than-expected 18 percent year-on-year to Rs 94.7 crore, sending shares 5 percent lower.

Total income from operations increased marginally to Rs 1,051.3 crore in April-June quarter from Rs 1,032.8 crore reported in a year ago period.

Analysts on an average had expected it to report net profit at Rs 100 crore on total income of Rs 1,170 crore for the quarter.

Consolidated numbers too were below analysts' expectations. Net profit grew by 22.2 percent Y-o-Y to Rs 87 crore and total income rose by 2.5 percent Y-o-Y to Rs 1,823 crore during the June quarter.

Analysts were expecting consolidated profit at Rs 123 crore on revenues of Rs 1,950 crore.

Consolidated EBITDA declined to Rs 172 crore in first quarter from Rs 174 crore in corresponding quarter of last fiscal and analysts' forecast of Rs 185 crore.

At 12:08 hours IST, the stock dropped 5.10 percent to Rs 717 amid high volumes on the BSE,