The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| E-Paper
Search
+

    Havells India Q1 net drops 22% to Rs 114 crore

    Synopsis

    The company reported Rs 146 crore net profit in the corresponding quarter previous.

    During the quarter the firm saw a significant decline in primary off-take and destocking due to uncertainty and lack of clarity, pending GST rollout.

    Related Companies

    NSE
    BSE

    PEER COMPANIES

    Havells India posted a 22% decline in net profit for the first quarter ended June at Rs 114 crore due to decline in off-take pending GST rollout.

    The company reported Rs 146 crore net profit in the corresponding quarter previous.

    Commenting on the financial performance, Anil Rai Gupta, chairman and managing director, Havells India Limited said, “During the quarter we saw a significant decline in primary off-take and destocking due to uncertainty and lack of clarity, pending GST rollout. The secondary sale, on the other hand was above normal especially in the month of June. We expect revenue to revert to normal growth levels in the next few quarters”.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
    The Economic Times