Q4 results impact: Havells India, M&M Finance stocks fall 3%

Q4 results impact: Havells India, M&M Finance stocks fall 3%

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Havells India, M&M Finance faced selling pressure on April 23 a day after the firms announced their fourth quarter results.

At 10:05 am on April 23, Havells India shares were trading 3% lower at Rs 1,615 apiece while M&M Finance shares on BSE were trading 3% lower at Rs 269 apiece.

Consumer electrical goods maker Havells India Ltd on Tuesday reported a 15.73% increase in consolidated net profit to Rs 517 crore for the March quarter.

The company had posted a consolidated net profit of Rs 446.7 crore in the January-March quarter a year ago, according to a regulatory filing from Havells India.

Its revenue from operations was up 20.24% to Rs 6,543.56 crore in the March quarter. It was Rs 5,442.02 crore in the corresponding period of the last fiscal year.

Meanwhile, non-bank lender Mahindra Finance on Tuesday reported a 9% decline in standalone profit to Rs 563 crore in the March quarter.

The Mahindra Group's financial services arm had posted a net profit of Rs 619 crore in the year-ago period.

Its core net interest income grew 9% to Rs 2,156 crore, on a 17% growth in the loan book, but restricted by a narrowing in the interest margin to 6.5% from the 7.1% in the year-ago period.