The first quarter of FY20 turned out to be a disappointment for Havells India. While top line growth was muted, the sharp increase in operating and other expenses turned out to be a major drag on margins and profitability. The stock has slumped 6 percent after its weak quarterly earnings and subdued demand outlook for the rest of the year. Key result highlights Overall revenue growth was slower in comparison to previous quarters, due to the constrained credit environment and...
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