Havells India has slipped 5% to Rs 716 after reporting a lower-than-expected 19% year-on-year (yoy) jump in net profit at Rs 95 crore for the quarter ended June 30, 2013 (Q1). The electrical equipment company had profit of Rs 80 crore during the year ago quarter.
Net sales grew marginally by 1.7% at Rs 1,044 crore on yoy basis. EBITDA margins however, improved to 12.7% from 11.58% during the recently concluded quarter.
Analyst on an average had expected profit of Rs 109 crore and net sales of Rs 1,474 crore for the quarter.
The stock opened at Rs 768 and hit a low of Rs 707 on BSE. A combined 461,000 shares changed hands on the counter till noon deals on BSE and NSE.
Net sales grew marginally by 1.7% at Rs 1,044 crore on yoy basis. EBITDA margins however, improved to 12.7% from 11.58% during the recently concluded quarter.
Analyst on an average had expected profit of Rs 109 crore and net sales of Rs 1,474 crore for the quarter.
The stock opened at Rs 768 and hit a low of Rs 707 on BSE. A combined 461,000 shares changed hands on the counter till noon deals on BSE and NSE.
