Havells India at new high on healthy Q3 results

Havells India is trading higher by 4% at Rs 463, extending its previous day’s 3.5% gain after reporting a 41% year-on-year (y-o-y) jump in consolidated net profit at Rs 89 crore for the third quarter ended December 2011. The company had posted a net profit of Rs 63 crore in the corresponding quarter last fiscal.

“Net revenue grew by 16% to Rs 1,660 crore, while EBIDTA grew by 38% to Rs 176 crore on y-o-y basis during the recently concluded quarter,” Havells said in a statement.

"The improved margins clearly reflect our continued focus on profitability, we would continue to consolidate upon the present growth trends,” said Anil Gupta, joint managing director of the company.
 
As many as 564,340 shares have already changed hands on the counter so far, as against an average less than 500,000 shares that were traded daily in past ten trading days on the NSE and BSE.