Havells India Q2 PAT spurts 82% to Rs 326 cr

The electrical equipment maker's consolidated net profit soared 81.97% to Rs 326.36 crore on 10.16% jump in revenue from operations to Rs 2,459.49 crore in Q2 September 2020 over Q2 September 2019.

Consolidated profit before tax (PBT) soared 107.34% to Rs 425.07 crore in Q2 September 2020 as against Rs 205.01 crore in Q2 September 2019. Total tax expense for the quarter surged 286.18% to Rs 98.71 crore as against Rs 25.56 crore in Q2 September 2019. The Q2 result was declared during market hours today, 29 October 2020.

On a standalone basis, net profit rose 80% to Rs 325 crore on 10% increase in net revenue to Rs 2,452 crore in Q2 FY21 over Q2 FY20. Profit margin improved to 13.3% in Q2FY21 as compared to 8.1% in Q2FY20. EBITDA jumped 79% to Rs 421 crore in Q2 September 2020 over Rs 235 crore in Q2 September 2019. EBITDA margin expanded to 17.2% in Q2FY21 as compared to 10.5% in Q2FY20.

The firm further stated that demand recovery was healthy and seemingly sustainable, consumer and residential portfolio was growing in mid-teens, infrastructure and industrial segment was still soft, advertisement spends are progressively reverting to normal levels and Lloyd has well recovered led by AC sales growth

The firm added that Covid-led disruption is declining, though regionally impacted with local lockdowns. Factories are operating at full capacity, branches and head office operating are on rotational work-from-home. Trade sales are stabilizing, and showing encouraging signals of initial growth. The prohibition on AC import is positive for integrated manufacturers like Lloyd.

Shares of Havells India fell 1.17% to Rs 719.70 on BSE.

Havells India is a leading fast-moving electrical goods company with presence across India. Its product range includes industrial & domestic circuit protection switchgear, cables & wires, motors, fans and power capacitors.

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