Havells Q1 earnings: Net profit rises 43%, stock ends flat

Consumer electronics maker Havells India reported a 43% rise in consolidated net profit for the June 2024 quarter. Havells India reported a profit of Rs 411 crore in Q1 against a profit of Rs 287 crore in the June 2023 quarter. EBITDA  climbed 43%  to Rs 576 crore in June 2024 quarter against Rs 402 crore in the corresponding quarter of the previous fiscal.

Revenue climbed 20 percent YoY to Rs 5,798 crore in the June quarter against Rs 4,824 crore in the June 2023 quarter. EBITDA margin contracted to 9.9 percent against 8.3 percent recorded in Q1FY24 and 11.7 percent in Q4FY24.

The company had to contend with higher expenses, which offset increased demand for air conditioners and fans amid an intense heatwave across North India.

The earnings were announced during market hours. The Havells stock ended on a flat note, down 0.72% lower at Rs 1861.10 on BSE. Market cap of the firm stood at Rs 1.16 lakh crore.

Havells India is engaged in consumer electrical/electronics and power distribution equipment manufacturer with products ranging from industrial and domestic circuit protection switchgears, cables, motors, pumps, solar products, fans, power capacitors, LED lamps and luminaries for domestic, etc.