Havells stock tumbles over 4% after Q3 earnings

21 Jan 2022 , 11:00 AM

Havells Ltd recorded a decline in its bottom-line for the quarter ending December 2021 (Q3FY22) period. On Friday, Havells opened at Rs 1,283.40 against the previous closing price of 1,310.30, down by Rs 26.9, and 2.05%.

It further dipped to Rs 1,253.55 shedding 4.24% so far in the day, indicating a downtrend.

Havells, a renowned and trusted consumer electrical goods maker, reported a consolidated net profit (PAT) of Rs 305.82 crore for the quarter ended December 2021, against Rs 350.14 crores for the quarter ending December 2020, down by 12.70%.

Havells reported a rise in sales of 15.40% at Rs 3,664.21 crore for Q3 FY’22 against Rs 3,175.20 crore for Q3 FY’21.

The company’s total segmental revenue was Rs 3,652.25 crore, while its cable segment revenue stood at Rs 1,205.43 crore.

The company remains positive on-demand recovery, citing covid-led anxiety main reason for low market demand.