Havells India To Focus On Cost Efficiencies, Rural Markets To Maintain Growth
Havells India Ltd. will improve on cost efficiencies to maintain margins going forward, its Chairman and Managing Director Anil Rai Gupta said.
The company’s focus will be on the rural market for the next few years in line with the government push towards the rural electrification, Gupta told BloombergQuint in an interview.
The electrical appliance makers’ operating margin expanded to 12 percent during the April-June quarter, from 9.2 percent in the year-ago period, according to its stock exchange filing.
Key earnings highlights (Q1, YoY):
- Net profit up 73.6 percent at Rs 210 crore.
- Net sales up 39.6 percent at Rs 2,596 crore.
- Ebitda up 81.7 percent at Rs 311.5 crore.
- Margin at 12 percent versus 9.2 percent.
Shares of Havells India rose as much as 9 percent to hit a new all-time high at Rs 611 apiece in today’s trade.