Havells’ Revenue Contracts In Q3 Due To Slower Industrial Sales, MD Says
Havells India’s profit rose 2.4% year-on-year to Rs 200.4 crore in Q3 on the back of revenue that fell 9.9% to Rs 2,269.9 crore.
Havells India Ltd.’s revenue contracted in the quarter ended December, mainly due to slower industrial sales, according to its Chairman and Managing Director Anil Rai Gupta.
“While our revenue has come down in this quarter, if you dissect the results a little bit, the entire de-growth is from only 30 percent of the business which is dependent upon industrial sales—industrial switch care, industrial cables, and professional luminaires,” Gupta told BloombergQuint in an interview on Wednesday.
“All the residential and consumer-oriented businesses have been at least able to maintain their revenues,” he said, adding that the electrical products maker has seen some challenge in the cash flow situation of the marketplace, and hence contractors don’t have enough cash to complete the project.
Havells India Q3 Results 2019-20: Key Highlights (YoY)
- Margin stood at 11.8 percent versus 11.7 percent.
- Revenue fell 9.9 percent to Rs 2,269.9 crore. (Estimate: Rs 2,614.1 crore)
- Net profit rose 2.4 percent to Rs 200.4 crore. (Estimate: Rs 209.8 crore)
- Ebitda fell 9.2 percent to Rs 267.4 crore.
Also Read: Havells Expects Demand For Products To Rise In Second Half Of FY20
WATCH | Havells India MD Anil Rai Gupta on the company’s Q3 results