Total income from operations rose 8.7% to Rs 1,548 crore during the quarter under review against Rs 1,434 crore in the corresponding quarter of previous fiscal.
“Weak demand in industrial cable, volume grew by 8% in Q2FY17. Value growth impacted by drop in commodity prices,” Havells India said in a statement.
Analyst at Motilal Oswal Securities was expected 31% year on year growth in net profit, aided by improvement in non-operating income, driven by incremental cash infusion on account of sale of Sylvania to Sanghai Fielo.
The stock had a strong run-up in past eight months, rose 53% as compared to 18% rise in Sensex till yesterday.