Havells India slips after Q1 PAT slumps 64%

Havells India fell 1.89% to Rs 595.80 after the company's net profit tumbled 64% to Rs 63 crore on a 45% decline in net revenue to Rs 1,479 crore in Q1 FY21 over Q1 FY20.

EBIDTA fell 53% to Rs 131 crore in the June quarter from Rs 278 crore in the corresponding period last year. EBIDTA margin was at 8.8% as on 30 June 2020 as against 10.3% as on 30 June 2019.

Profit before tax in Q1 June 2020 stood at Rs 86 crore, down by 68% from Rs 266 crore in Q1 June 2019. Tax expense declined 74% year-on-year (YoY) to Rs 23 crore during the quarter.

Revenue from the switchgears business was at Rs 190 crore (down 44% YoY), cable business revenue was at Rs 461 crore (down 41% YoY), lighting & fixtures business revenue was at Rs 138 crore (down 45% YoY), electrical consumer durable business revenue was at Rs 302 crore (down 46% YoY) and others revenue was at Rs 82 crore (down 36% YoY) during the quarter. Others include Motor, Pump, Solar, Personal Grooming and Water Purifier businesses.

Havells said that consumer portfolio within all segments recovered earlier and better than industrial portfolio.

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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