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Near-term demand uncertainty for Havells likely to weigh on sentiment

Though revenues declined 45 per cent year-on-year (YoY) to Rs 1,479 crore, there was a better-than-expected rebound in June sales, which pushed top line ahead of consensus estimate of Rs 1,302 crore

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Havells India | Q1 results | Market news

Ujjval Jauhari  |  New Delhi 

Havells may have managed to post a better-than-expected performance for the quarter ended June 30 (Q1), but near-term uncertainties on demand are likely to weigh on its stock valuations. The stock has lost almost 4 per cent since last Monday, when its Q1 results were declared.

Though revenues declined 45 per cent year-on-year (YoY) to Rs 1,479 crore, there was a better-than-expected rebound in June sales, which pushed top line ahead of consensus estimate of Rs 1,302 crore. June saw sales grow 4 per cent YoY, against a 40 per cent decline in May. Higher-than-expected revenues helped ...

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First Published: Sun, August 02 2020. 17:48 IST
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